Association sharing benefits

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Reference no: EM13904515

On 31st March, 2011 the accompanying was the monetary record of P and Q who were carrying on business in association sharing benefits and misfortunes in the proportion of 5:3 individually.

On 1st April, 2011 R is admitted to the firm as another accomplice, the new benefit sharing proportion between P, Q and R is settled upon as 7:5:4 individually. R gets Rs. 24,000 as his capital. R's offer of goodwill is settled at Rs. 5,000.

Show diary sections and asset report instantly after R's affirmation in each of the accompanying cases:

(a) R brings money for his offer of goodwill and the old accomplices withdraw a large portion of the sums credited to their records for goodwill acquired by R.

(b) R does not bring anything by method for his offer of goodwill.

Reference no: EM13904515

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