12th Class
Accountancy
Admission of a Partner
Question Bank
MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner
question_answer
A and B are partners sharing profits in the ratio of 3:2. They decided to admit C as a new partner on 1st Apr. 2021 and profit sharing ratio becomes 3:1:1. C brought 1,20,000 as his capital. On 31 Mar. 2021 their capitals were A 1,50,000 and B 1,00,000. On the date of C's admission balance sheet shows Profit and Loss (Cr) balance 30,000. C's share of goodwill will be :