12th Class
Accountancy
Admission of a Partner
Question Bank
MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner
question_answer
Atul and Neera were partners in a firm sharing profits in the ratio of 3 : 2. They admitted Mitali as a new partner. Goodwill of the firm was valued at Rs. 2,00,000. Mitali brings her share of goodwill premium of Rs. 20,000 in cash, which is entirely credited to Atul's Capital Account. New profit sharing ratio: