Fill in the Blanks:Any accumulated profit or reserve appearing in the – InterviewSolution

1.	Fill in the Blanks:Any accumulated profit or reserve appearing in the balance sheet at the time of admission of a new partner is _________ in the existing partner’s capital account in existing profit sharing ratio.
Answer» Any accumulated profit or reserve appearing in the balance sheet at the time of admission of a new partner is credited in the existing partner’s capital account in existing profit sharing ratio.

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