A and B are partners sharing profits in the ratio of 3: 2. C is admitted...

 

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A and B are partners sharing profits in the ratio of 3: 2. C is admitted for 1/4th share of profits and brings Rs. 10, 000 as his capital. But he is not able to bring in cash for his share of goodwill Rs.3, 000. How will you treat this? A B C D Goodwill is raised by Rs. 12,000 C will remain as debtor for Rs.3, 000 C's A/c is debited for Rs.3, 000 Goodwill is raised by Rs.9,000 A and B are partners sharing profits in the ratio of 3: 2. C is admitted for 1/4th share of profits and brings Rs. 10, 000 as his capital. But he is not able to bring in cash for his share of goodwill Rs.3, 000. How will you treat this? A B C D Goodwill is raised by Rs. 12,000 C will remain as debtor for Rs.3, 000 C's A/c is debited for Rs.3, 000 Goodwill is raised by Rs.9,000

Answer rating: 100% (QA)

Answer is C When a new partner does not bring i... View the full answer