CA CPT 2014 June Question Paper Fundamentals of Accounting for online practice
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Question : 50 of 60
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A & B are in partnership sharing profits & losses in the proportion of 3:1 respectively. On 1-4-2013, they admitted ‘c’ into partnership on the following terms.
i) ‘C’ is to purchase 1/3rd of the goodwill for Rs.2000/- by paying cash
ii) future profits & losses are to be shared by A, B & C equally
Set out the entry to the above arrangement in the firm journal
i) ‘C’ is to purchase 1/3rd of the goodwill for Rs.2000/- by paying cash
ii) future profits & losses are to be shared by A, B & C equally
Set out the entry to the above arrangement in the firm journal
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