Admission of New Partner – Q & A
Why and how new partner is admitted in partnership business?
What kind of accounting treatment is required at the time of admission of new partner?
What do you mean by old ration?
What do you mean by new ratio?
What do you mean by Sacrificing ratio?
Who will enjoy the profit of revaluation of assets and liabilities?
State the usual methods of computing the value of goodwill.
What do you mean by amalgamation?
What general entry will be passed for transfer of general reserve?
About the Author
True Tamplin, BSc, CEPF®
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.