Accountancy, asked by gopalsamajdar2000, 7 months ago

A and B carrying 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 porfits and losses. C was asked to pay a premium of rs 1400 for goodwill and the porfit- sharing ratio asbetween A and B remained unchanged. show entries in journal of firm.

Answers

Answered by musicera120

2

A and b carrying on business as partners used to share profit and losses thus ;4/7 and 3/7,and goodwill appeared in books of firm at 280000 when c was admitted as partner having 1/7 share in profits and losses C was asked to pay a premium of 75000 for goodwill and profit sharing ratio as between A and B remained unchanged?

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