Amar and samar were partners in a firm sharing profits and losses in 3:2 ratio. They admitted kanwar for 1/4 share of profits. kanwar could not bring his share of goodwill premium in cash. The goodwill of the firm was valued at Rs. 80000 on kanwar's admission. Record necessary journal entry for goodwill on kanwar's admission?
Answers
Answered by
11
Old Ratio 3:1
Kanwar admitted for 1414share of profit.
New Firm’s Goodwill = Rs. 80,000
Kanwar’s Share of Goodwill = 80,000 ×1414 20,000.
Answered by
5
✨ᴀɴsᴡᴇʀ ɪɴ ᴛʜᴇ ᴀᴛᴛᴀᴄʜᴍᴇɴᴛ!✨
Attachments:
Similar questions