Q. 26. A and B were partners in a firm sharing profits and losses in the ratio of
5:3. They admitted C as a new partner. A surrendered 1/3rd of his share in favour of
C and B surrendered 1/4th of his share in favour of C. C brought 1,50,000 for his
capital and 58,000 for his share of goodwill. Calculate new profit sharing ratio of
A, B and C, sacrificing ratio of A and B and pass necessary journal entries for the above
transactions on C's admission.
Answers
Answered by
0
Answer:
B
′
s share of sacrifice is calculated below.
B
′
s Sacrifice = Old share − New share
=
8
3
−
8
2
=
8
1
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