General Reserve at the time of admission of a partner is transferred to
General Reserve at the time of admission of a partner is transferred to
a) Revaluation Account
b) the credit of old partner’s capital accounts
c) the debit of old partner’s capital accounts
d) the credit of capital accounts of all the partners
Anurag Pathak Changed status to publish May 30, 2023
Ans – b)
Explanation:-
General Reserve is the part of the past profit earned. it belongs to the old partners in old profit sharing ratio. thus General reserve is credited to old partners in the old ratio.
Anurag Pathak Changed status to publish May 30, 2023
