Question

to record an adjustment entry reflecting the change in the
3 marks
closing the Profit and Loss Account, it was de
sharing ratio. Your are, therefore, required to record the necessary journal entry to give effect to the same.
2.5 Vimal and Kamal are partners sharing profits in the ratio of 4 : 1. They admit Amal as a new partner who brings
-15,000 as his share of goodwill (premium). Amal is entitled to 1/3rd share in profits. As between themselves
Vimal and Kamal agree to share future profits and losses equally.
You are required to:
(a) Calculate the new profir sharing ratio
(b) Record journal entries showing the appropriation of premium
ng nonfira os es equally. On 31st March, 2020 ch
4 ma​

Answer 1

Answer:

$454474y { { {4yy}^{?} }^{?} }^{?}$

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