the balance sheet of A ,B and C who were sharing profit in the ratio of 5:3:2 is given below on 31st March 2015
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Explanation:
Following was the Balance Sheet of A and B who were sharing profits in the ratio of 2:1 as at 31
st
March,2018:
Liabilities (Rs.) Assets (Rs.)
Capital A/c:
A 15,000
B 10,000
Sundry Creditors
25,000
32,950 Building
Plant and Machinery
Stock
Sundry Debtors
Cash in Hand 25,000
17,500
10,000
4,850
600
57,950 57,950
They agree to admit C into the partnership on the following terms:
(a) C was to bring in Rs.7,500 as his capital and Rs.3,000 as goodwill for 1/4
th
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