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X and Y share profits and …

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X and Y share profits and losses in the ratio of 3:2 . They admit Z as a partner who pays rs. 72000 as premium for goodwill for 1/4th share in the future profits of the firm . Pass journal entries appropriating the premium money and show the new profit sharing ratio in each of the following cases:- (i) if he acquires his share of profit in the original ratio of existing partners. (ii) if he acquires his share of profit in equal proportions form the existing partners. (iii) if he acquires his share in the ratio of 2:3 from the existing partners. (iv) if he acquire les his share of profits as 7/32th from X and 1/32th from Y .

Posted by Komal Chauhan 6 years, 7 months ago

CBSE > Class 12 > Accountancy

4 answers

Ayush Kumar 1 year, 6 months ago

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Anupama Dhruw 4 years, 6 months ago

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Avnee Jain 4 years, 7 months ago

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Monika Kataria 3 years, 6 months ago

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B and C are partner sharing profit in the ratio 3 2. Goodwill appears in the book at Rs3000 DIs admitted into partnership on payment of 2000 for 1/4, share as goodwill .B and C between themselves.Sharing future profit and loses equally given journal.

Posted by Palak Sharma 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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Posted by Srishti Arya 1 year, 2 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Palak Kumari 3 months, 2 weeks ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Annu Sahani 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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Posted by Shashank Shukla 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Tanishk Kabra 1 year, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Munni Lal 1 year, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

Gita Radha and Garv are partner sharing prophets in the ratio of 1 by 2 2 by 5 and 1 by 10 find the new profit sharing ratio of the remaining partners if girl retires

Posted by Mahi . 1 year, 4 months ago

CBSE > Class 12 > Accountancy

0 answers

Accounting for partnership Firms Fundamentals notes

Posted by Mohd Aman Mansoori 1 year, 5 months ago

CBSE > Class 12 > Accountancy

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