12th Class
Accountancy
Admission of a Partner
Question Bank
MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner
question_answer
X, Y and Z are partners, sharing profits 2:1:1. On 1st April 2021, they admitted M as a new partner. New profit sharing ratio decided 1:2:1:1. B has gained 3/20th share, so his capital account was debited with Rs. 18,000. How much premium for goodwill brought in by M?