At the time of admission of a new partner, Undistributed Profits appeaming in the Balance Sheet of the old firm is transferred to the Capital Account of:
A. Old partners is old profit-sharing ratio
B. Old partners in new profit-sharing ratio
C. All the partners in the new profit-sharing ratio
D. None of these
Answer:A
At the time of admission of a new partner, Undistributed Profits appeaming in the Balance Sheet of the old firm is transferred to the Capital Account of:
A. Old partners is old profit-sharing ratio B. Old partners in new profit-sharing ratio C. All the partners in the new profit-sharing ratio D. None of these