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Sachin and Kapil are partners sharing profits and losses in the ratio of 2 : 3. On 1st April, 2023, they admit Amit into partnership for 1/4th share in profits. Amit brought ₹ 2,00,000 for his capital and ₹ 36,000 as premium for his share in the profits.

Anurag Pathak
June 28, 2023
[ISC] Admission of Partner, [ISC} TS Grewal Solutions, Accountancy Class 12th

4.99K viewsJune 28, 2023[ISC] Admission of Partner [ISC} TS Grewal Solutions Accountancy Class 12th

Anurag Pathak30.76K June 28, 2023 0 Comments

Sachin and Kapil are partners sharing profits and losses in the ratio of 2 : 3. On 1st April, 2023,

they admit Amit into partnership for 1/4th share in profits. Amit brought ₹ 2,00,000 for his capital and ₹ 36,000 as premium for his share in the profits.

The new profit sharing ratio of Sachin, Kapil and Amit is agreed to be 3 : 3 : 2. Sachin Kapil withdraw the premium for goodwill from the business.

Pass necessary Journal entries when the firm follows Fixed Capital Accounts Method.

Anurag Pathak Changed status to publish June 28, 2023

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Anurag Pathak30.76K Posted June 28, 2023 0 Comments

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Anurag Pathak Changed status to publish June 28, 2023

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Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

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Sachin and Kapil are partners sharing profits and losses in the ratio of 2 : 3. On 1st April, 2023, they admit Amit into partnership for 1/4th share in profits. Amit brought ₹ 2,00,000 for his capital and ₹ 36,000 as premium for his share in the profits.

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Anurag Pathak

1 Answer

Anurag Pathak

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