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A and B are partners in a business shari...

A and B are partners in a business sharing profits and losses in the ratio of 1/3rd and 2/3rd. On 1st April, 2019, their capitals were RS.8,000 and RS.10,000 respectively. On that date, they admit C in parnership and give him 1/4th share in the future profits. C brings RS.8,000 as his capital and RS.6,000 as goodwill. The amount of goodwill is withdrawn by the old partners in cash. Draft the Journal entries and show the Capital Accounts of all the Partners. Calculate proportion in which partners would share profits and losses in future.

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New Ratio- 1 : 2 : 1.
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TS GREWAL-Admission of a Partner-EXERCISE
  1. Aun and Bhagwan were partners in a firm sharing profits in the ratio 3...

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  2. X and Y are partners in a firm sharing profits in the ratio of 3 : 2....

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  3. A and B are partners in a business sharing profits and losses in the r...

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  4. A and B were partners in a firm sahring profits and losses in the rati...

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  5. A and B are partners sharing profits in the ratio of 2 : 1. They admit...

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  6. A and B are partners sharing profits and losses in the ratio of 3 : 2....

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  7. On the admission of Rao, goodwill of Murty and Shah is valued at RS.30...

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  8. A and B are partners sharing profits in the ratio of 3 : 2. Their boo...

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  9. A, B and C are in partnership profits and losses in the ratio of 5 : 4...

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  10. Mohan and Sohan were partners in a firm sharing profits and losses in ...

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  11. Madan and Gopal are partners sharing profits in the ratio of 3 : 2. Th...

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  12. Anil and Sunil are partners in a firm with fixed capitals of RS.3,20,0...

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  13. A and B are partners in a firm with capital of RS.60,000 and RS.1,20,0...

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  14. Bhuwan and Shivam were partners in a firm sharing profit in the ratio ...

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  15. Vinay and Naman are partenrs sharing profits in the ratio 4 : 1. Their...

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  16. X and Y are partners with capitals of RS.50,000 each. They admit Z as ...

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  17. Asin and Shreyas are partners in a firm. They admit Ajay as a new part...

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  18. Verma and Sharma are partners in a firm sharing profits and losses in ...

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  19. Disha and Divya are partners in a firm sharing profits in the ratio of...

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  20. E and F were partnres in a firm sharing profits in the ratio of 3 : 1....

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