A, B and C sharing profits and losses in...

A, B and C sharing profits and losses in the ratio of 4 : 3 : 2, decided to take D as a partner for 1/5th share in the firm with effect from 1st April, 2019. An extract of their Balance Sheet as at 31st March, 2019 is:

Show the accounting treatment of Workmen Compensation Reserve on the admission of D under following alternative cases:
Case 1. If there is no other information.
Case 2. If a claim on account of workmen compensation is estimated at RS.45,000.
Case 3. If a claim on account of workmen compensation is estimated at RS.99,000.

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TS GREWAL-Admission of a Partner-EXERCISE

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