What is the treatment of for:
1) insurance fund
2) employees saving fund
3)workmen profit sharing fund.
(Admission of a partner)

  • -1
All of them belongs to old partners so it is distributed among old partners in their old profit sharing ratio and adjusted in the partners capital a/c.
  • 1
all of them belong to the existing partners ..so it should be divided to the old partners in old profit sharing ratio
  • 1
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