Question

A and B are partners sharing profits and losses as 2 : 1. On 1st April, 2018 they admit C as a partner for 1/4th share who pays rs 4,50,000 as goodwill privately. On 1st April, 2019, they take D as a partner for 3/5th share who brings rs 4,00,000 as goodwill, out of which half is withdrawn by the existing partners.On 1stApril 2020, E is admitted as a partner for 1/6th share who brings 35,00,000 as goodwill which retained in the business. Journalise the above transactions in the books of the firm. (Ans. New profit sharing ratios : 2018 — 2:1:1; 2019—2:1:1:6; and 2020 —2:1:1:6:2​

Answer 1

Answer:

2000

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