it was given that 20% of the general reserve was kept aside as provision for doubtful debts.
general reserve is 2000 rs.
what will be the treatment of the above if on partner retires?
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Retirement of a partner
Replies (1)
400(20% of Rs. 2000) will be deducted from general reserve and balance general reserve of Rs. 1600 will be distributed in old ratio.
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