Question

0.83. 4. B and Care partners in a firm sharing profits in the ratio of 5:3:2. Dis
admitted into the firm for 1/4 share in profits, which he gets as 1/8 from A and 1/8 from
B. The total capital of the firm is agreed upon as 3,20,000 and D is to bring in cash
amount
be adjusted in the ratio of their respective shares in profits. The capitals of A, B and C
y capitals of A, B and C, and record the necessary journal entries.
ter all adjustments are 21,00,000, 375,000 and 160,000 respectively. Calculate the
necessary journal entries​

Answer 1

Answer:

Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations.

Organizations in this sector: Institute of Chartered Accountants in England and Wales