Question

what are the accounting problems faced at the time of admission of a new partner​

Answer 1

Answer:

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Answer 2

A and B share profits in the ratio – A, 5/8 and B 3/8. C is admitted as partner. He brings in Rs 70,000 as his capital and Rs 48.000 as goodwill. The new profit-sharing ratio among A, B and C respectively is agreed to be 7 : 5 : 4 respectively.
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