Karan and Saran are partners in a partnership. They admitted Mohit as a new partner for `1/4`th share in profits. Balance Sheet [Extract] Liabilities Amount(₹) Assets Amount(₹) Creditors 25,000 If 5% of creditors are not likely to claim their dues, what amount of creditors will be shown in the Balance Sheet on Mohit's admission?

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Karan and Saran are partners in a partnership. They admitted Mohit as a new partner for 1/4th share in profits. If 5% of creditors are not likely to claim their dues -

Karan and Saran are partners in a partnership. They admitted Mohit as a new partner for `1/4`th share in profits.

If 5% of creditors are not likely to claim their dues, what amount of creditors will be shown in the Balance Sheet on Mohit's admission?

MCQ

₹ 23,750

Explanation:

25,000 − 5% of 25,000

= 25,000 − 1,250

= 23,750

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Admission of a Partner - Revaluation of Assets and Liabilities

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