A and b are partners in the farm sharing profits in the ratio 3 ratio to the admit c as a partner on 1st april 2019 c bring 30000 test capital for one fourth share it also bring rupees 10000 for his share of goodwill part of the stock which had been included at cost of 2008 been badly damaged in short storage and could only expect to release 400 rupees
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ADMISSION OF A PARTNER- MEANING Inclusion of a new person as a partner to an existing firm is called admission of a partner. ... Rights of incoming partners For acquisition of the right to share the asset, the new partner has to bring an agreed amount of the capital
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