Showing posts with the label Admission-of-a-partnerShow all
A and B are partners sharing profits and losses in the ratio of 3:1. On Ist Jan. 2017 they admitted C as a new partner for 1/4 share in the profits of the firm.
A and B share profits in the proportions of 3/4 and 1/4. Their Balance Sheet on Dec. 31, 2016 was as follows..........
 Amit and Viney are partners in a firm sharing profits and losses in 3:1 ratio-Solution