X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner and fixed new profit sharing ratio as 3 : 2 : 1. At the time of admission of Z, Debtors and Provision for Doubtful Debts existed at ₹ 50,000 and ₹ 5,000 respectively. All debtors are good. Pass the necessary Journal entries.
X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as a partner and fixed new profit sharing ratio as 3 : 2 : 1. At the time of admission of Z, Debtors and Provision for Doubtful Debts existed at ₹ 50,000 and ₹ 5,000 respectively. All debtors are good. Pass the necessary Journal entries.
Anurag Pathak Changed status to publish May 21, 2023
