A and B carring on business as partners used to share profits and losses thus, A 4/7th and B 3/7th and goodwill appeared in the books of the firm at ₹5600 when C was admitted as a partner having 1/7th share in profits and losses. C was asked to pay a premium of ₹ 1400 for goodwill and the profit sharing ratio as between A and B remained unchanged. Show journal entries of the firm.
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A 4/7 ¥56900 =loss 14000 then you hove 42900
A and B remained 112900 mark me bro
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