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If there are accumulated profits at …

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If there are accumulated profits at the date new partners admission and partners decide not to show such balances in the books of firm than what will be the treatment

    • Posted by Mohd Affan Shah 6 years, 10 months ago

    CBSE > Class 12 > Accountancy
    • 3 answers

    Mohd Affan Shah 6 years, 10 months ago

    And what will be the amount the total of accumulated profits given in the question

    0Thank You

    Rajip Chowdhury 6 years, 10 months ago

    Incoming partner a/c dr To sacrificeing partner capital acct

    1Thank You

    Harika Muskan 6 years, 10 months ago

    An adjustment entry is passes: Gaining partner capital a/c dr. To sacrificing partner capital a/c

    1Thank You

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