A and B are partners sharing profits in the ratio of 3 : 1. On 1st April 2014, they
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admit C into partnership for th share who pays 50,000 as premium privately. On 1st
.
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April 2015, they admit D into partnership for b th share who brings 40,000 as
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premium 75% of which is withdrawn by the existing partners. On 1st April 2016, E is
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admitted as a partner for th share who brings 60,000 as premium which is retained
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in the business.
Pass journal entries for the above.
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The answer is 945654% profitable income
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