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A and B were equal partners in a firm. On 1-1-2001, they admitted C on the following conditions: C should bring Rs.20,000 as capital,
A and B were equal partners in a firm. On 1-1-2001, they admitted C on the following conditions: C should bring Rs.20,000 as capital, and Rs.10,000 as goodwill. In future A, B and C would share profits and losses in the ratio of 2 : 1:2. A and B will share the goodwill in the ratio of A 1:1 B 3:1 C 1:3 D 2:1
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Correct option is C At the time of admission of a new partner goodwil...
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
