Appropriations are the transactions that happen between firm and partners in the capacity of .
Appropriations are the transactions that happen between firm and partners in the capacity of ___________
Arti and Bharti are partners in a firm sharing profits in 3 : 2 ratio. They admitted Sarthi as a new partner and the new profit-sharing ratio will be 2 : 1 : 1. Sarthi brought Rs 1,00,000 for her share of goodwill. Goodwill already appeared in the books of Arti and Bharti at Rs 60,000.
Pass the necessary Journal entries in the books of the new firm for the above transactions.