Ques.8. N and H are partners in the firm sharing profits in the proportion of 2: 1. They admit R as partner
with 1/4 share of profits. He brings in Rs.24000 as his share in goodwill of the firm. The new profit
sharing ratio is N 13724. H 5/24 and R. R does not bring any capital. Pass the necessary journal entries
to record the above.
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Pls specify the new profit sharing ratio again.
It is not stated properly
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