Question

Why do we distributed reserves accumulated profit and losses among the old partners? ​

Answer 1

Distributed reserves accumulated profit and losses among the old partners

Explanation:

Accumulated profit and losses and  reserves are distributed among the old partners because  if not distributed the new partner may claim his share from these immediately after his admission while these belong to the old partners and they have to enjoy from their profits.

Accumulated profits in the books of the firm should be transferred to the old partners' capital/current accounts in the old profit sharing ratio, because these items belong to the old partners.

To know more:

Why do we distributed reserves accumulated profit and losses among the old partners? ​

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Why do we distribute reserves accumulated profit and losses among old partner

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Answer 2

Answer:

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