A, b, c and d are partners in a firm sharing profit in the ratio of 3:3:2:2 respectively. d retire and a, b, c decide to share the future profit in the ratio of 3:2:1. goodwill of the firm is valued at rs 6,00,000. goodwill already appears in the books of firm at 4,50,000. the profit for the year after d's retirement amount to 1,20,000. give the necessary journal entries to record goodwill and to distribute the profit. show your calculation clearly.
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