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Q.40. X, Y and Z were partners sharing profits and losses as to X one-half; Y one-third;ad Z one-sixth. As from 1st April, 2015, they agreed to admit A into partnership for ane-sixth share in profits and losses, which he acquires equally from X and Y, and is toHing in 50,000 for his capital and 320,000 as premium for goodwill. A paid in his capitalnoney but in respect of premium for goodwill, he could bring in only 315,000.You are required to :(i) give the journal entries to carry out the above arrangements and(ii) work out the new profit-sharing ratio of the partners. |
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Answer» i DONT UNDERSTAND your QUES........ i dont understand your ques........ |
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