Question

R Illustration 27. X and Y are partners in a wholesale firm sharing profi
ratio 4:3. They admit Z, their commission agent as a partner giving him 1/4th
share of profit. X and Y decided to share equally in future. Z brought 30,000 as
capital and 14,000 for premium in cash.
( Pass necessary journal entries to record the above and compute the
sacrificing ratio of X and Y.
.inc admission of 7 as a partner​

Answer 1

Tanu and Anu are partner's sharing profit in the ratio 3:2. They admit Sum

as a new partner for 1/5 share in the profit and brings 50,000 for his canita

The Capital of Tanu and Anu after all the adjustments are 95,000 and

390,000 respectively. Calculate the total capital of the new firm and capital

of each partner on the basis of the new partner's capital.

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Answer 2

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Tanu and Anu are partner's sharing profit in the ratio 3:2. They admit Sum

as a new partner for 1/5 share in the profit and brings 50,000 for his canita

The Capital of Tanu and Anu after all the adjustments are 95,000 and

390,000 respectively. Calculate the total capital of the new firm and capital

of each partner on the basis of the new partner's capital.