Skip to page content
Admission of a Partner
Accountancy · Chapter 3 · Unit 1: Accounting for Partnership Firms
Not started Not started
Your path through this chapter
Visual lesson Beta
- Part 1: Ratios and Goodwill19 slides
- Part 2: Revaluation, Reserves, Capitals and the New Balance Sheet19 slides
Flashcards Beta
31 cards for quick recall of key terms and facts.
Review the cards Step 3: Not startedPractice
79 board-style questions with instant checks: Multiple choice 25, Long answer 14, Short answer 13, Assertion and reason 7.
Practise Step 4: Not startedChapter test Free
Short and long chapter tests in board pattern, with results and analysis.
Step 5: Not started- Chapter test (long) — Admission of a Partner · 40 marks · 90 min
- Chapter test (short) — Admission of a Partner · 20 marks · 40 min
Topics 4
- New profit-sharing ratio and sacrificing ratio
- Treatment of goodwill on admission (AS 26)
- Revaluation, reserves and accumulated profits on admission
- Adjustment of capitals and the new balance sheet