A and B are partners in a firm sharing profit in the ratio 2:1. C is admitted into the firm with 1/4 share in profits. He will bring in Rs. 30,000 as capital and capitals of A and B as on March 31, 2014
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4 share in profits. He will bring in Rs. 30,000 as capital and capitals of A and B as on March 31, 2014
Answer:
new profit sharing ratio is 2:1:1