the ratio of 5:3. They admit Tanu into the firm for 1/6 share in profit which...
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the ratio of 5:3. They admit Tanu into the firm for 1/6 share in profit which he takes 1/18 from Tanu and 2/18 from Puneet. Traun brings 9,000 as goodwill out of his share of 12,000. No goodwill account appears in the books of the firm. Make necessary journal entries in the books of the firm. proc and hig p² e the ratio of 5:3. They admit Tanu into the firm for 1/6 share in profit which he takes 1/18 from Tanu and 2/18 from Puneet. Traun brings 9,000 as goodwill out of his share of 12,000. No goodwill account appears in the books of the firm. Make necessary journal entries in the books of the firm. proc and hig p² e
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The question youve provided involves accounting for the admission of a new partner into an existing partnership To address this situation we need to c... View the full answer
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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