john and thomas are partners sharing profit and losses in the ratio of 3:2.they admit kumar into partnership, kumar paying $10000 for goodwill. the future profit sharing ratio shall be 4:3:2 .show the journal entries to record the above transaction
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3:2. Their capitals as on April,. 1 2014 were *2,00,000/- and
*1,80,000/- respectively. On October 1, 2014, A introduced an
s additional capital of 50,000 and on January, 1, 2015, B introduced
0 * 70,000/-. Interest on capital is allowed at 10% p.a. Calculate
1 interest on capital for both the partners for the year ending March,
31, 2015.
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