A, B and C are partners sharing profits in 2 : 2 : 1. On 1st April, 2023, they admitted Z for 1/4th share. On the date of admission, the following items appeared in their Balance Sheet:
A, B and C are partners sharing profits in 2 : 2 : 1. On 1st April, 2023, they admitted Z for 1/4th share. On the date of admission, the following items appeared in their Balance Sheet:
Pass necessary journal entries.
| ₹ | |
| General Reserve | 1,50,000 |
| Workmen Compensation Reserve | 40,000 |
| Profit & Loss A/c | 60,000 |
| Advertisement Suspense A/c (Dr.) | 25,000 |
Anurag Pathak Answered question August 29, 2024
