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What is admission of partner

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What is admission of partner

    • Posted by ? ? 4 years, 1 month ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Dev Kumar Singh 4 years, 1 month ago

    Its means a another person will join the partnership

    2Thank You

    ANSWER
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    Q. 120. Risha and Nisha were partners. The partnership deed provides: (1) That the accounts be balanced on 31st December each year. (ii) The profits be divided as follows: Risha one-half, Nisha one-third and carried to Reserve account one-sixth. (ii) That in the event of death of a partner, her executor will be entitled to the following: (a) The capital to her credit at the date of death. (b) Her proportion of profit to date of death based on the average profits of the last three completed years. (c) Her share of goodwill based on three year's purchase of the average profits for the three preceding completed years. On 31st December, 2020 the Trial Balance was as under: Particulars Risha's Capital Nisha's Capital Reserves Bills Receivables Investments Cash Creditors Dr. (3) Cr. (3) 90,000 60,000 30,000 50,000 40,000 1,10,000 20,000 2,00,000 2,00,000 The profits for the three years were: 2018 ₹4,200; 2019 ₹3,900 and 2020 ₹4,500. Nisha died on 31st May, 2021. Draw up the deceased Partner's Capital A/c and Executor's A/c. Ans. Balance due to Nisha's Executor's ₹77,740.]

    • Posted by Srishti Arya 1 month, 2 weeks ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Annu Sahani 4 months, 1 week ago

    CBSE > Class 12 > Accountancy
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    • Posted by Shashank Shukla 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Tanishk Kabra 4 months, 1 week ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Munni Lal 4 months, 1 week ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Mahi . 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Mohd Aman Mansoori 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    • Posted by Palak Sharma 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
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    CBSE > Class 12 > Accountancy
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    • Posted by Riya Chandan 4 months, 1 week ago

    CBSE > Class 12 > Accountancy
    • 0 answers

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