Kavita and Karan are partners in a firm sharing profits and losses in the ratio
4: 1. On 1st April, 2021, they admitte Mohit for 1/4th share in the profits of the
firm. The balance sheet of Kavita and Karan showed stock at 45,000.0
admission of new partner, the stock was found undervalued by 10%. The
journal entry to give effect to the abow adjustment on Mohit's admission will
be: