send mail to email@example.com mentioning your email id and mobileno registered with us! if details not recieved
Resend Opt after 60 Sec.
Please verify your mobile number
Subscribe to Notifications
Stay updated with the latest Current affairs and other important updates regarding video Lectures, Test Schedules, live sessions etc..
Refer & Earn
My Abhipedia Earning
Kindly Login to view your earning
Type your modal answer and submitt for approval
.Mr. A commenced business with a capital of 2,50,000 on 1st April, 2013. During the five years ended 31st March, 2018, the following profits and losses were made: 31st March, 2014−Loss 5,000
31st March, 2015−Profit 13,000 31st March, 2016−Profit 17,000 31st March, 2017−Profit 20,000 31st March, 2018−Profit 25,000
During this period he had drawn 40,000 for his personal use. On 1st April, 2018, he admitted B into partnership on the following terms:
B to bring for his half share in the business, capital equal to A's Capital on 31st March, 2018 and to pay for the one-half share of goodwill of the business, on the basis of three times the average profit of the last five years. Prepare the statement showing what amount B should invest to become a partner and pass entries to record the transactions relating to admission.
By: NIHARIKA WALIA ProfileResourcesReport error
Access to prime resources