Question

21. P and Q were partners in a firm sharing profits in the ratio 5:3. They
decided to share profits equally from 1st April, 2016. For this purpose,
goodwill of the firm was valued at 40,000. Pass the necessary journal
entry for the treatment of goodwill.​

Answer 1

Answer:

Premium for goodwill and/C dr.

To P capital A/C 25000

To Qki capital a/C 15000

Answer 2

Answer:

i want pura answer not just journal entry