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In memorandum of reserve calculations in admission of new partner for balance sheet reserve what is the treatment.

Shreesha .T.u

CA Foundation

★ 2K+

22-May-21 20:50

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Answers (3)

Best Answer

General reserve is credited to old partners in old profit sharing ratio because it is the profit earned by them and they are worthy of it

Prasanth Kumar

CA Inter

★ 13K+

23-May-21 09:50

Didn't understand the question properly

Prasanth Kumar

CA Inter

★ 13K+

22-May-21 21:02

Is general reserve credit to old partners in old profit sharing ratio or debited to new partner in new PSR .in memorandum reserve calculation.

Thread Starter

Shreesha .T.u

CA Foundation

★ 2K+

23-May-21 09:35

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