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Rima and shima are partners sharing …

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Rima and shima are partners sharing profits in the ratio 2:3. On first April 2022 they admit kirtan to partnership for 1/4th share. Kirtan brought₹1,00,000 for his capital and ₹36000 as premium for Goodwill for his 1/4th share in the profits. New profit sharing ratio will be 3:3:2. Rima and shima withdrew the premium money from business. Pass journal entries in the books of the firm

Posted by Prakriti Bose 2 years ago

CBSE > Class 12 > Accountancy

2 answers

Saini.Satwinder Saini Satwinder 2 years ago

Cash A/C dr 1,36,000 To kiran A/C 1,00,000 To premium on goodeill A/C. 36,000

Jass Singh 2 years ago

New ratio=3:3:2

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