Question

A and B are partners in a firm sharing profits losses in the proportion of 3:1. On 1 April, 2018, they take C into the partoceship for 1/5 share of profits. C ncquires his share from A and B in the ratio of 2:1. Value of goodwill is determined at Rs 24000. At present, C is not in a position to bring amount towards goodwill. Give necessary journal entries by using mised and write off method of goodwill. Case 1: When goodwill appears in the books of the firm @ 10000. Case 2: When goodwill is not appearing in the books.​

Answer 1

Answer:

321000

Explanation:

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