Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / hmad and Muhammad are partners with capital Rs12000 and Rs 6000

hmad and Muhammad are partners with capital Rs12000 and Rs 6000

Ahmad and Muhammad are partners with capital Rs 12,000 and Rs.6,000 respectively and sharing profits and losses equally. On1st January 2007 they admit Bilal as new partner on condition that he will pays Rs 3,000 as capital andtake l/6tfl of the profit. The good will of the firm is valued at Rs 4,000.

You are required to prepare the journal entries for the above arrangement and show the balance sheet after Bilal'sadmission. (only capitals)

Apr 17 2018 View more View Less

Answer (Solved)

question Subscribe To Get Solution

Related Questions