Question

A and b are partner in a firm sharing ptofits in the ratio of 3:2 they admitted c into partner ship with 1/4 share in future profits .the new profits sharing ratio is 5:4:3. C brings into the bussines 50000 for his capital but could not bring any ammount for goodwill. The firm goodwill on c admission was valued at 48000.pass journal entry

Answer 1

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