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X and Y are partners. They have provided following information on the admission of a new partner Z.
• Balance of capital account : Partner A = 50,000 and Partner B = 30,000
• Current account balance of partners : Partner A 20,000 and Partner B = 10,000
• Reserves & Surplus = 40,000
• Goodwill (Given in Balance sheet) 10,000 and Advertisement expense 20.000
Capital employed of the firm:
(a) 1,50,000
(b) 1,20,000
(C) 1,40,000
(d) 1,30,000
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X and Y are partners. They have provided following information on the admission of a new partner Z....
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