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Record the admission of mr z in the general journal

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Mr. T and Mr. R are partners having capital balances of Rs. 300, 000 and Rs. 300, 000 respectively. They agreed to share profits and losses in the ratio of 2:3. They agreed to admit Mr. Z as a new partner. Mr. Z invests cash Rs. 150, 000 for 1/3 interest in the new partnership.

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Question 1: Record the admission of Mr. Z in the general journal. The total Capital of firm increase by MR. Z investment

Reference no: EM132508594

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