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Q. 55. Charu and Deepika were partners sharing profits in the ratio of 3:2. Theyadmitted Esha, as a new partner and the new ratio is agreed at 4: 3:2. On the date ofEsha's admission, the Balance Sheet of Charu and Deepika disclosed General Reserve1,20,000; Dr. balance in Profit & Loss Account 40,000; Investments 2,00,000 andInvestment Fluctuation Reserve 60,000.The following was agreed upon Eshas' admission :(i) Esha will bring 3,00,000 as her Capital and her share of goodwill premiumin cash.(ii) Goodwill of the firm be valued 1,80,000.(iii) The market value of investments was 2,30,000.Pass the necessary journal entries. |
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Answer» Explanation: Its just for explanation i have not made JOURNAL seriously just rough if u want u can make working NOTES more BRIEFLY but according to me its enough I HOPE it helped u..! |
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