Question

A & B are partners their profit sharing ratio is 3:2 is C is admitted for 1/5 share calculate new profit share

Answer 1

Answer:

A and B were partners in a firm sharing profits in the ratio of 3:2. With effect from 1st April, 2020 they agreed to share A and B were partners in a firm sharing profits in the ratio of 3:2. With effect from 1st April, 2020 they agreed to share profits equally. For this purpose , the goodwill of the firm was valued at Rs.30000. pass A and B were partners in a firm sharing profits in the ratio of 3:2. With effect from 1st April, 2020 they agreed to share profits equally. For this purpose , the . goodwill of the firm was valued at Rs.30000. pass journal entry entry equally. For this purpose , the goodwill of the firm was valued at Rs.30000. pass journal entry