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  • Partnership and Not-for-Profit Accounting
  • The liability of Workmen's Compensation Reserve is Rs. 16...
Multiple choice

The liability of Workmen's Compensation Reserve is Rs. 16000 and on admission of a partner, it is determined at Rs. 12000. Rs. 4000 would be credited in

  1. revaluation A/c

  2. realisation A/c

  3. all partners' capital A/c

  4. old partners' capital A/c

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

It is directly transferred to the old partner's capital A/c. Since, he has contributed to it.

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