Practice

Questions

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CUET

Q.18. Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 3:2: 1. Deepa retires. After making all adjustments relating to revaluation, goodwill, Payment to Deepa and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 1.60.000 and Rs. 80.000 respectively. It was decided to adiust the capitals of Asha and Lata in their new profit sharing ratio. You are required to calculate the new capitals of the partners i.e Asha and Lata.