brainly in which of the following book will the return to sm chand center on 25 feb record
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Give Journal entries to record the following arrangements in the books of the firm:
(a) B and C are partners sharing profits in the ratio of 3:2. D is admitted paying a premium (goodwill) of Rs.2,000 for 1/4
th
share of the profits, shares of B and C remain as before.
(b) B and C are partners sharing profits in the ratio of 3:2. D is admitted paying a premium of Rs.2,100 for 1/4
th
share of profits which he acquires 1/6
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from B and 1/12
th
from C.
Explanation:
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