CUET CUET Accountancy 2024 - If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner. | PYQs + Solutions

CUET Accountancy 2024

Accountancy

Admission of a Partner

Easy

If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner.

debited to old partners' capital account

credited to all partners' capital accounts

credited to old partners' capital accounts

debited to all partners' capital accounts

Correct Option: 3

If no claim against Workmen Compensation Reserve, it is credited to old partners' capital accounts at admission of a partner -> old partners shared reserve -> new partner not entitled -> Option 3

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CUET Accountancy 2024 PYQs

If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner.

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