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Rajinder and Surinder (4:1) have general reserve Rs. 20,000 and a P&L debit of Rs. 10,000. Rajinder's net credit?
ARs. 16,000
BRs. 10,000
CRs. 8,000
DRs. 2,000
Answer & Solution
Correct answer: C. Rs. 8,000
General reserve gives Rajinder 4/5 of 20,000 = 16,000 credit and the loss takes 4/5 of 10,000 = 8,000 away, a net credit of 8,000.
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