Question

A and B are partners in a firm sharing profits and losses in the ratio of 3:2. They admit C into
partnership for 1/3 share in profits. Cbrings 20,000 for capital. Goodwill is valued at * 15,000.
Show what entries shall be made in the following cases :
• Goodwill does not appear in the books.
(ii) Goodwill appears in the books at 9,000.
(U.S.E.B., 2015)
Ans. 6) C's share of Goodwill * 5,000 to be adjusted through capital current account,
(ii) First of all existing goodwill a/c will be closed and the other two entries will be made.]​

Answer 1

Answer:

Thank you hello hellohello hallo re halo