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CPTSuccess Revision Notes – Fundamentals of Accounting Chapter 8. Partnership Unit 3: Admission of a New Partner
Chapter 8. Partnership Unit 3: Admission of a New Partner ,[object Object]
Sacrificing ratio = Old ratio – new ratio© Revision Notes - Fundamentals of Accounting CPTSuccess www.cptsuccess.com
Chapter 8. Partnership Unit 3: Admission of a New Partner ,[object Object]

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Acc0803 admission of a new partner

  • 1. CPTSuccess Revision Notes – Fundamentals of Accounting Chapter 8. Partnership Unit 3: Admission of a New Partner
  • 2.
  • 3. Sacrificing ratio = Old ratio – new ratio© Revision Notes - Fundamentals of Accounting CPTSuccess www.cptsuccess.com
  • 4.
  • 5. When a New partner is admitted into the Partnership, reserves etc lying in the balance sheet are transferred to Capital accounts of old partners in the old profit sharing ratio© Revision Notes - Fundamentals of Accounting CPTSuccess www.cptsuccess.com