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Malvika,ridhi and manya were partners sharing profit in the ratio 5:3:2 on 31st March 2021 malvika retires and her balance of capital on that date was 1,30,000 p and l (cr.) balnce ₹80000 revaluation loss 20000 all partners decided to pay 180000 to malvika on her retirement pass necessary journal entries?
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Malvika,ridhi and manya were partners sharing profit in the ratio 5:3:...



Journal Entries for Malvika's Retirement:

1. Revaluation of Assets and Liabilities:
- Dr. Revaluation Account 20,000
- Cr. Malvika's Capital Account 20,000

2. Settlement of Malvika's Capital Account:
- Dr. Malvika's Capital Account 1,30,000
- Dr. P&L (Cr.) Account 80,000
- Cr. Malvika's Capital Account 2,10,000

3. Payment to Malvika:
- Dr. Malvika's Capital Account 1,80,000
- Cr. Bank Account 1,80,000
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Malvika,ridhi and manya were partners sharing profit in the ratio 5:3:2 on 31st March 2021 malvika retires and her balance of capital on that date was 1,30,000 p and l (cr.) balnce ₹80000 revaluation loss 20000 all partners decided to pay 180000 to malvika on her retirement pass necessary journal entries?
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Malvika,ridhi and manya were partners sharing profit in the ratio 5:3:2 on 31st March 2021 malvika retires and her balance of capital on that date was 1,30,000 p and l (cr.) balnce ₹80000 revaluation loss 20000 all partners decided to pay 180000 to malvika on her retirement pass necessary journal entries? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Malvika,ridhi and manya were partners sharing profit in the ratio 5:3:2 on 31st March 2021 malvika retires and her balance of capital on that date was 1,30,000 p and l (cr.) balnce ₹80000 revaluation loss 20000 all partners decided to pay 180000 to malvika on her retirement pass necessary journal entries? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Malvika,ridhi and manya were partners sharing profit in the ratio 5:3:2 on 31st March 2021 malvika retires and her balance of capital on that date was 1,30,000 p and l (cr.) balnce ₹80000 revaluation loss 20000 all partners decided to pay 180000 to malvika on her retirement pass necessary journal entries?.
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