Question:
At the time of admission of a new partner, general reserve appearing in the old Balance Sheet is transferred to:
At the time of admission of a new partner, general reserve appearing in the old Balance Sheet is transferred to:
Updated On: Sep 23, 2024
- old partners in old Profit Sharing Ratio
- old partners in new Profit Sharing Ratio
- old partners in new Profit Sharing Ratio
- all partners in the new Profit Sharing Ratio
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The Correct Option is A
Solution and Explanation
The correct option is (A) :old partners in old Profit Sharing Ratio
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