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12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    X is admitted into the partnership for l/4th share. Total capital of the old firm is Rs. 36,000. If capital are to be proportionate to the profit sharing ratio, the amount that X has to bring will be:

    A) Rs. 15,000         

    B) Rs. 12,000

    C) Rs. 11,250         

    D) Rs. 24,000

    Correct Answer: B

    Solution :

    [b] Rs. 12,000
    Hint; Capital of old firm for 3/4th share = Rs. 36,000
    Firm's capital = 36,000 \[\times \]4/3 = Rs. 48,000
    X's capital = 48,000 \[\times \] 1/4 = Rs. 12,000
     


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