Question: Section C: Case studies (1-2015M 15 MARKS) (Suggested time 75 minutes) Instruction: Answer all the questions. (Case 1: 3 Marks; Cases 2: 12 Marks) Case

Section C: Case studies (1-2015M 15 MARKS) (Suggested time 75 minutes)

Section C: Case studies (1-2015M 15 MARKS) (Suggested time 75 minutes) Instruction: Answer all the questions. (Case 1: 3 Marks; Cases 2: 12 Marks) Case 1: 3 Marks Aliza and Balqees are partners sharing profit and losses in the ratio of 5:3. Shaima is admitted as a new partner for 1/5th share. Shaima brings OMR 15,000 as her Capital and necessary amount of his share of goodwill in cash. Total goodwill of the firm is OMR 60.000. Pass necessary journal entries

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