Explain 5 reason for admitting a new partner
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Answer: Required adjustments at the time of admission of a Partner:
Calculation of New Profit Sharing Ratio.
Revaluation of Assets and Liabilities of the firm.
Treatment of Goodwill.
Adjustment of Accumulated Reserves and Profits /Losses.
Adjustment of Capital (if agreed).
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hey mate here is your answer
Explanation:
1) Adjustment of new capital.
2) Treatment of goodwill.
3) Calculation of new profit sharing ratio.
4) Liabilities of the firm.
5) For acquiring additional managerial skills.
6) For procuing additional capital.
Hope it will help you and have a great day ahead ✌✌✌
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