Question

Ram Rahim and Jacob are partners they addmitt David as a new partner

Answer 1

Answer:

Ram, Rahim and Karim are partners in a firm sharing profit 2:2:1 ratio. They decided to dissolution at 31 March, 2012. On that date Balance Sheet was as under : Following amount realized from fixtures and other assets – Rs 9,000 from stock Rs 4,520, from debtors Rs 1,800, creditors were paid off Rs 3,800 in full settlement. Realization expenses Rs 120. Prepare necessary account to close the books.Read more on Sarthaks.com - https://www.sarthaks.com/696759/ram-rahim-and-karim-partners-firm-sharing-profit-rat