Give the two main rights acquired by the new partner. Post category:Accountancy Reading time:1 mins read SOLUTION (i)Right to share future profits of the firm, and (ii) Right to share the assets of the firm. 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 PostAt the time of admission of a partner, who decides the share of profit of the new partner out of the firm’s profit? Next PostState any one purpose for admitting a new partner in a firm. You Might Also Like What is meant by Calls-in-Advance? September 28, 2022 A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of A and B were Rs. 3,85,000 and Rs. 4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C. (C.B.S.E. Sample Paper, 2017) September 27, 2022 Why is premium on the issue of debentures considered a capital profit? September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
A and B were partners in a firm. They admitted C as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of A and B were Rs. 3,85,000 and Rs. 4,15,000 respectively. C brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by C. (C.B.S.E. Sample Paper, 2017) September 27, 2022