A B C D and E were partners sharing profits and losses in the ratio of 5 : 4: 3:2:1
respectively. Partners D and E died in an accident. Goodwill of firm was valued a ?
150.000
New Profit Sharing Ratio of A. B & C in 4:6:5.
Give journal entry to record the above.
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Answer:
B's Capital A/c Dr. 20000
C's Capital A/c Dr. 20000
To D's Capital A/c 20000
To E's Capital A/c 10000
To A's Capital A/c 10000
( Being goodwill adjusted in gaining ratio between D&E and sacrificing partner A)
Explanation:
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