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P,q,r were partners ina a firm …

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P,q,r were partners ina a firm sharing profits in ratio 2:2:1. On 1 jan 2014 Pdecided to retire from the firm .S is admitted as a new partner on the same date for 1/4 share of profit . On this date investments appeared at 50000 and investment fluctuating fund at 12000 while the market value of the investments was 48000 . Pass necessary journal entry .

Posted by Priyanka Bansal 8 years, 2 months ago

CBSE > Class 12 > Accountancy

1 answers

Pari Jain 8 years, 2 months ago

IFR a/c Dr 12000 to Investment a/c 2000 to p cap. A/c 4000 To q cap a/ c 4000 To r cap cap a/c 2000

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