a and b are partners sharing profit and loses 5 :3. c is admitted as new partner for 1/4th share his brings 30000 of goodwill.pass necessary journal entry if a nd b retained their goodwill share
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Answer:
Sharing of profit ( Old Ratio) = 15000 : 10000 : 5000
Sharing of profit ( New Ratio) = 12000 : 12000 : 6000
Difference - A Cr. 3000 ; B Dr. 2000 ; C Dr. 1000
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