Question

. Amar and Samar were partners in a firm sharing profits and losses in 3:1 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. 80,000 on Kanwar’s admission. Record necessary journal entry for goodwill on Kanwar’s admission.

1 गुण



A

B

C


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Answer 1

Explanation:

Kanwar capital A/c .....Dr. 20,000

Aman capital A/c 15,000

Samar capital A/c. 5,000

sacrificing ratio= 3:1

new ratio= 9:3:4

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