A and b share profit and losses equally They admit C as an equal Partner and goodwill was valued as rs 30000 C is to bring in 30000 as capital and necessary cash towards his share of goodwill. what will be the final effect of goodwill in the partners capital account?
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Explanation:
Bank a/c Dr. 40,000
To C's capital a/c. 30,000
To Premium for Goodwill. 10,000
Premium for Goodwill a/c. Dr. 10,000
To A's capital a/c. 5,000
To B's capital a/c. 5,000
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