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Kajal,Neerav And Alisha are partners in …

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Kajal,Neerav And Alisha are partners in a firm sharing profits in the ratio of 3:2:1.They decided to admit venusan has new partner. He brought sufficient amount of capital and his share of goodwill premium. The accountant of the firm passed the entry of rent paid for the building to venusan in profit and loss appropriation account. Is he correct in doing so? Give reason.

Posted by Dhanu Sridhar 4 years, 5 months ago

CBSE > Class 12 > Accountancy

2 answers

Harshita Sinha 3 years, 6 months ago

open answer

Lokesh Dhankhar 5 years, 10 months ago

No, coz. Rent is a charge against profit.

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CBSE > Class 12 > Accountancy

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