Question

a and b are partner sharing profit in 2:1 c and d are admited and new profit sharing ratio become 4:3:2:1 goodwill is valued at 20000 d brings goodwill and 5000 cash c brings 5000 cash and 6000 worth stock as his capital in addition to the required amount of goodwill in cash​

Answer 1

Answer:

a and b are partner sharing profit in 2:1 c and d are admited and new profit sharing ratio become 4:3:2:1 goodwill is valued at 20000 d brings goodwill and 5000 cash c brings 5000 cash and 6000 worth stock as his capital in addition to the required amount of goodwill in cash