[NCERT] Q 29 Admission of Partner Solutions Class 12

Solution of question number 29 Admission of Partner NCERT Accountancy solutions Class 12 CBSE Board.

Amit and Viney are partners in a firm sharing profits and losses in 3 : 1 ratio. on 1.1.2017 they admitted Ranjan as a partner. on Ranjan’s admission the profit and loss account of Amit and Viney showed a debit balance of Rs. 40,000. Record necessary journal entry for the treatment of the same.

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