Question

At the time of admission of a new partner, Which adjustments are required
a. Accounting treatment of Goodwill.

b. Accounting treatment of accumulated profit.

c. Calculation of new profit sharing ratio and sacrificing ratio.

d. All of the options ​

Answer 1

Answer:

d. all the options are correct ❤️❤️

Answer 2

Answer:

d. all options

Explanation:

The following adjustments are necessary at the time of admission of a partner:

Distribution of accumulated profits, reserves and losses.

Revaluation of assets and liabilities.

Determination of new profit-sharing ratio and sacrificing ratio.

Adjustment for goodwill