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State any two reasons for the …

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State any two reasons for the preparation of capital account at the time of admission of a partner?

    • Posted by Bhumi Bansal 4 years, 2 months ago

    CBSE > Class 12 > Accountancy
    • 2 answers

    Ayushi Chouhan 4 years, 2 months ago

    Because new partner in admitted in firm and old partners reserves and profit are distributed before admission of new partner.

    1Thank You

    Lovely Dhawan 4 years, 2 months ago

    So that the accumulated profit and losses n all reserves be credited to the capital accounts of old pertners in their old orofit sharing ratio

    1Thank You

    ANSWER
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