Question

A and B are partners in a firm sharing profits in the ratio 3:2. They admit C into partnership for 1/5 th share of profits in the firm.The goodwill of the firm is valued at Rs 1,00,000. He is unable to bring in his share of goodwill. What will be the journal entries if: (a) goodwill is raised at full value and then written off (b)goodwill is not raised​

Answer 1

Answer:

Babur, born Zahīr ud-Dīn Muhammad, was the founder of the Mughal Empire and first Emperor of the Mughal dynasty in the Indian subcontinent. He was a descendant of Timur and Genghis Khan through his father and mother respectively. He was also given the posthumous name of Firdaws Makani