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a) Revaluation a/c
b) general reserve a/c
c) old partners capital a/c

d) none of these

1O. If general reserve has a balance of 50,000 , then it will be distributed
among

a) Revaluation a/c
b) new partners capital a/c
c) old partners capital a/c
d) none of these

11. If P&L a/c has a balance of 70,000 , then_________ A/c will be
credited

a) Revaluation a/c
b) P&L a/c a/c
c) old partners capital a/c
d) none of these

12. If P&L a/c has a balance of 30,000 , then_________ A/c will be
debited

a) Revaluation a/c

b) P&L a/c a/c
c) old partners capital a/c
d) none of these

13 X , Y.Z are partners sharing profits and losses in the ratio 3 : 2:1 . Their

Balance Sheet as at 31st March, 2018 is:

Liabilities ` Assets `

Sundry Creditors 1,00,000 Cash in Hand 90,000
Outstanding Expenses 50,000 Cash at Bank 1,20,000
General Reserve 90,000 Bills Receivable 1,00,000
Sundry Debtors 1,10,000

Capital A/cs: Less: Provision for Doubtful Debts 10,000 1,00,000