Question

Land M were partners in a firm sharing profits and losses in the ratio of 5:3. On Ist January 2000. They admit O as a new partner. On of O's admission, the balance sheet of L and M showed a balance of 16,000 in general rese and debit balance of 24,000 in profit and loss account. Pass the necessary journ
al entries for the treatment of those items on O's admission.​

Answer 1

Answer:

Land M were partners in a firm sharing profits and losses in the ratio of 5:3. On Ist January 2000. They admit O as a new partner. On of O's admission, the balance sheet of L and M showed a balance of 16,000 in general rese and debit balance of 24,000 in profit and loss account. Pass the necessary journ

al entries for the treatment of those items on O's admission.Land M were partners in a firm sharing profits and losses in the ratio of 5:3. On Ist January 2000. They admit O as a new partner. On of O's admission, the balance sheet of L and M showed a balance of 16,000 in general rese and debit balance of 24,000 in profit and loss account. Pass the necessary journ

al entries for the treatment of those items on O's admission.

Answer 2

Answer:

Hii.... good afternoon friend