what if both cash nad bank balances give n at the time of admission , which balance to take as premium has to be adjusted
Dear Student
If both the balances of cash and Bank are given in the question and no specific information about the same is given then you can choose any one of them and solve the question accordingly.
But please give the note about same that "It has been assumed that Premium of Goodwill is brought by incoming partner in the bank account and hence necessary adjustments have been done from the bank account for the same."
Regards
If both the balances of cash and Bank are given in the question and no specific information about the same is given then you can choose any one of them and solve the question accordingly.
But please give the note about same that "It has been assumed that Premium of Goodwill is brought by incoming partner in the bank account and hence necessary adjustments have been done from the bank account for the same."
Regards