7. A and B carrying on business as partners used to share profits and losses thus, A 4/7th and B
3/7th and goodwill appeared in the books of the firm at * 5,600 when C was admitted as a
partner having 1/7th share in profits and losses. C was asked to pay a premium of 1,400 for
goodwill and the profit-sharing ratio as between A and B remained unchanged.
Show entries in the Journal of firm.
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7 B carrying out there that work
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