12th Class
Accountancy
Sample Paper
Accountancy - Sample Paper-15
question_answer
L and M were partners in a firm. They admitted N as a new partner for 20% share in the profits. After all adjustments regarding general reserve, goodwill, gain or loss on revaluation, the balances in capital accounts of L and M were Rs. 1,92,500 and Rs. 2,07,500 respectively N brought proportionate capital so as to give him 20% share in the profits. Calculate the amount of capital to be brought by N.