Accountancy, asked by mavlesmadhu2129, 9 months ago

A and B are partners sharing profits and losses in the ratio of 3 : 1. They is capital. Cis to bring in cash for his share of goodwill. The new ratio is to be 3:1:1. The goodwill the firm is to be based on 3 years' purchase of the average of 4 years profits which were 15.000 12,000; 18,000 and 19,000. Goodwill Account appears in the books at 4.000 Pass necessary Journal entries.

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Answered by kaditya4511

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