A and B are partners in a firm sharing profit in the ratio of 3:2 they admit c into partnership for 1/5 th share of profit the Goodwill of the firm is valued at rs 100000 he bring his share of goodwill in cash then pass journal entryy
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Answered by
2
Answer:
Cash A/c-------Dr. 20,000
To Goodwill A/c. 20,000
(Being cash brought in C for 1/5 share of goodwill)
Explanation:
Answered by
1
Answer:
cash a/c dr 20000
to goodwill 20000
(being goodwill bring by new partner)
goodwill a/c dr 20000
to a a/c 12000
to b a/c 8000
(being goodwill transfered to old partner)
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