Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account?
Held on 3 Jun 2025 · Verified 13 Jul 2026.
Rs 16,000 will be credited to Rajinder's capital A/c.
Rs 2,000 will be debited to Surender's capital A/c.
Rs 8,000 will be credited to Rajinder's capital A/c
Rs 4,000 will be credited to Surender's capital A/c
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