P and Q are partners sharing profit and losses in the ratio 2:1 they admit R into partnership for 4/9 - Accountancy - Reconstitution- Admission of a Partner

Question

P and Q are partners sharing profit and losses in the ratio 2:1
they admit R into partnership for 4/9 share in profits which he
acquires equally from P and Q R brings in cash 2,50,000 as capital
and 180,000 as goodwill Pass journal entries and find out new
Profit sharing ratio

Ishi · Accepted Answer

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P and Q are partners sharing profit and losses in the ratio 2:1 they admit R into partnership for 4/9 share in profits which he acquires equally from P and Q . R brings in cash 2,50,000 as capital and 180,000 as goodwill. Pass journal entries and find out new Profit sharing ratio