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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