A,B and Care sharing profits in the ratio of 3: 2:1. B dies on Ist September, 2016
on the day of B's death Goodwill is valued at 60,000. A and C decided to share future
profits in the ratio of 3:2,
In order to arrange funds to make payment to B's Executors, the firm took a loan from
PNB @18% pa, and full payment was made to B's executors,
You are required to pass Journal Entry for the treatment of goodwill.
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Answer:
5:6
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