At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital accounts of :
A. Old partners in old profit sharing ratio
B. Old partners in new profit sharing ratio
C. All the partner in the new profit sharing ratio
D. None of the above
Answer:B
At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital accounts of :
A. Old partners in old profit sharing ratio B. Old partners in new profit sharing ratio C. All the partner in the new profit sharing ratio D. None of the above