Question

2. Manish and Mitesh are the partners sharing profit-loss in the ratio of 2:3. They admitted
Marvin as a new partner for 1/3rd share of profit. Marvin brought Rs. 90,000 in cash as
capital. But he is not able to bring in his share of goodwill. The goodwill of the firm is
valued at Rs 1,80,000 at the time of admission of a new partner,
Pass necessary journal entries.
(5 mark)​

Answer 1

Explanation:

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