CUET Preparation Today
When a new partner is admitted, the undistributed profits that appear in the balance sheet of the old firm are transferred to the capital account of: |
Old partners in new profit sharing ratio Old partners in old profit sharing ratio All the partners in the new profit sharing ratio All the partners in the old profit sharing ratio |
Old partners in old profit sharing ratio |
The correct answer is Option (2) → Old partners in old profit sharing ratio |
