Question

A and B are partners in a firm sharing profit and losses in the ratio 3:2 . They admit C I to partnership for 1/3 share in profits. C brings 20000 for capital . Goodwill is valued at 15000 . Show what entries shall be made in the following cases
1. Goodwill does not appear in the books
2. Goodwill appears in the books at 9000

Answer 1

Answer:

C's share of goodwill = 5,000 ans