At the time of admission of a partner, who decides the share of profit of the new partner out of the firm’s profit? Post category:Accountancy Reading time:1 mins read SOLUTION Share of profit of the new partner is decided mutually among the old partners and the new partner. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostHow can a new partner be admitted? Next PostGive the two main rights acquired by the new partner. You Might Also Like What is meant by New Profit-sharing Ratio in case of admission of a partner? October 7, 2022 Record necessary Journal entries in the following cases: (a) Creditors worth Rs. 85,000 accepted Rs. 40,000 as cash and Investment worth Rs. 43,000, in full settlement of their claim. (b) Creditors were Rs. 16,000. They accepted Machinery valued at Rs. 18,000 in settlement of their claim. (c) Creditors were Rs. 90,000. They accepted Building valued at Rs. 1,20,000 and paid cash to the firm Rs. 30,000. July 25, 2022 Give any two objectives of Cash Flow Statements. (C.B.S.E. Sample Paper, 2019) October 4, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Record necessary Journal entries in the following cases: (a) Creditors worth Rs. 85,000 accepted Rs. 40,000 as cash and Investment worth Rs. 43,000, in full settlement of their claim. (b) Creditors were Rs. 16,000. They accepted Machinery valued at Rs. 18,000 in settlement of their claim. (c) Creditors were Rs. 90,000. They accepted Building valued at Rs. 1,20,000 and paid cash to the firm Rs. 30,000. July 25, 2022