A and B are passed with capital of rupees 90000 and rupees 100000 respectively . They decided to admit C into the partnership for 1/4 share in the future profits. C is to bring a sum of rupees 80000 as his capital and 12500 for has share of goodwill.
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They admit Z as a partner with 1/4th share in the profits of the firm. Z brings in Rs. 80000 as his share of capital. The Profit ... Total Capital of the firm after admission= 50000+50000+80000+40000 ... Z's share of Goodwill= 100000 * 1/4= 25000. JOURNAL. 1. Cash a/c. ... To X's Capital a/c 12500 ...
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