Accountancy, asked by yashparab518, 6 months ago

surplus are distributed among
the partner in their ..... ratio

Answers

Answered by shantanukumar9686

3

Answer:

At the time of admission of a new partner, if there exists any reserves or accumulated profits in the books of the firm, they should be transferred to the old partners' capital/current accounts in the old profit sharing ratio, because these items belong to the old partners and not to the new partner.

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