CUET AccountancyPartnership > Easy(A), (B) and (C) only(A), (B) and (D) only(A), (C) and (D) only(B), (C) and (D) only✅ Correct Option: 3Related questions:27 May Shift 2When a new partner is admitted, the undistributed profits that appear in the balance sheet of the old firm are transferred to the capital account of:31 May Shift 1A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. D is admitted into the firm for 1/4th share in profits, which he gets 1/8th from B. The total capital of the firm is agreed upon as Rs. 1,20,000 and D is to bring in cash equivalent to 1/4th of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and C after all adjustments, are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the new capital of A24 May Shift 1The accumulated profits and reserves are transferred to: