Question

Aditya and Balan are partners sharing profits and losses in 3:2 ratio. They
admitted Mulan for 1/4share in the profit. The new prolīt sharing ratio
agreed was 2:1:1 mulan brought Rs. 50,000 for his capital. His share of
goodwill was agreed to at Rs. 15,000. Mulan could bring only Rs. 10000. Out of
his share of goodwill. Record necessary journal entries in the books of the
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Answer 1

Answer:

Aditya and Balan are partners sharing profits and losses in 3:2 ratio. They admitted Christopher for 1/4 share in the profits. The new profit sharing ratio agreed was 2:1:1. Christopher brought Rs. 50,000 for his capital. His share of goodwill was agreed to at Rs. 15,000.