On 1st April 2018 Seema and Chandra entered into partnership for sharing profits in the ratio of 4/3 They admitted Tipu as a new partner on 1st April 2020 for 1/5 * t * h share which he acquired equally from Seema and Chandra. For the year ended on 31st March, 2021 the form earned profit at the higher rate than normal rate of return. Therefore, they decided to expand their business. To meet the requirement of additional capital of Rs. 5,00,000, they admitted Pravina as a new partner on 1st April 2021 for 1/7th share in profits which she acquired from Seema and Chandra in the ratio of 7:3. Goodwill of the firm at the time of Pravina's admission was decided for Rs. 3, 50, 000 Along with her capital Pravina brought her share of goodwill in
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On 1st April 2018 Seema and Chandra entered into partnership for sharing profits in the ratio of 4/3 They admitted Tipu as a new partner on 1st April 2020 for 1/5 * t * h share which he acquired equally from Seema and Chandra. For the year ended on 31st March, 2021 the form earned profit at the higher rate than normal rate of return. Therefore, they decided to expand their business. To meet the requirement of additional capital of Rs. 5,00,000, they admitted Pravina as a new partner on 1st April 2021 for 1/7th share in profits which she acquired from Seema and Chandra in the ratio of 7:3. Goodwill of the firm at the time of Pravina's admission was decided for Rs. 3, 50, 000 Along with her capital Pravina brought her share of goodwill in
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