Topics
Admission
- New profit-sharing, sacrificing and gaining ratios
- Goodwill on admission under AS 26, including hidden goodwill
- Revaluation Account
- Accumulated profits, losses and reserves
- Adjustment of capitals
- Change in profit-sharing ratio
Learning objectives
- Record goodwill and revaluation entries on the admission of a partner.
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We are building worlds, labs and stories for Admission of a Partner. Meanwhile, practise its questions or explore the rest of Commerce.
