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need right of my question thank you illustration 51. Shukla, Grewal, Jain and Narang were partners sharing profits and losses as 4 : 3:2:1. Their
need right of my question thank you
illustration 51. Shukla, Grewal, Jain and Narang were partners sharing profits and losses as 4 : 3:2:1. Their Balance Sheet as on 31.03.13 was as follows: Liabilities Amount Assets Capital: Shukla Grewal Jain Narang 7,000 6,500 5,000 4.000 Goodwill Stock Debtors Cash Profit and Loss (Dr. Balance) A/C Amount 9,000 2,000 11,000 5,000 3,000 22,500 Sundry Creditors 7,500 30,000 30,000 062 On that date Grewal retired and the amount due to him was paid privately by the other partners in their profit sharing ratio. Chakraborty was then admitted as a new partner. The latter paid 5,000 as capital andStep by Step Solution
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