Question

3.96
Double Entry Book
39. Abek and Aman are partners sharing profits and losses in the ratio of 3: 1. They admit Anand as partner who
pays 7 30,000 as capital. Anand is to bring in cash for his share of goodwill. The new ratio is to be 3:1:1
Goodwill of the firm is to be based on 3 years' purchase of the average of 4 years' profits which were
* 15,000; 3 12,000; 18,000 and 19,000. Goodwill Account appears in the books at 4,000.
Pass necessary Journal entries.​

Answer 1

Answer:

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