CA CPT Model Test Paper 13 with solutions for online practice

A and B are partners of X & Co., sharing profits and losses in 3:2. C admitted, on which a revaluation of assets of the firm was made by reducing the value of plant & machinery by Rs. 5,000, stock by Rs. 1,500 and furniture & fittings by Rs. 1,000 and by making a provision of bad and doubtful debts at Rs. 750 on sundry debtors. Amount of revaluation profit/loss will be: