Question

A and B are partners in 3:2 ratio. They admitted C for 1/3 share. He brings ₹70000 of which ₹40000 in his capital and remaining amount in his goodwill. The old partners withdrew 50% of the share of goodwill. Record the transaction in journal​

Answer 1

Answer:

cash account----- Dr. 1,10,000. -

To capital account. - 70,000

To goodwill account. - 40,000

( being cash bring in business.)

Goodwill account------- Dr. 40,000

To'A' capital account. 24,000

To'B' capital account. 16,000

( being goodwill distributed to old partners.)

Explanation:

mark me brainlist