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Neerav and Madhur are partners in …

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Neerav and Madhur are partners in a firm sharing profits and losses in the ratio 3:2.They admit Gopal into partnership for 1/4th share of profits.He brings in his share of goodwill in cash and proportionate capital. Liabilities creditors 56,000 general reserve 64,000 Neerav's capital 1,20,000 Madhur's capital 80,000 Assets bank 20,000 Debtors 1,20,000 (1,30,000-reserve 10,000) Stock 60,000 Investments 1,00,000 Patents 20,000
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