Accountancy, asked by TbiaSamishta, 1 year ago

Conclusion of admission of partner

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Answered by TheSpy

4

Depending upon the share of profits to be given to the new partner, either a sum of money will be directly paid by him to the old partners (through the firm or privately) or after recording new partner's capital, new partner's capital account will be debited with his share of goodwill, the credit being given to the old ...

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