In this que general reserve is distributed in which ratio and also explain....???
Dear Student
General Reserve is an accumulated profit , we know that on admission of a partner we transfer accumulate profits to the old partners capital account in their old PSR .
Therefore here general reserve shall be distributed in Old ratio between X and Y i.e 5:3.
Hope this explanation helps you
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Regards
General Reserve is an accumulated profit , we know that on admission of a partner we transfer accumulate profits to the old partners capital account in their old PSR .
Therefore here general reserve shall be distributed in Old ratio between X and Y i.e 5:3.
Hope this explanation helps you
Please get back for any query
Keep posting
Regards