Question

Ashoka,Rakesh and mukesh were partners sharing profits in the ratio of 2:2:1 . Rakesh retired and goodwill was valued at 300000. pass the journal to record goodwill​

Answer 1

Explanation:

rakesh's share of goodwill=300000*2/5= 120000

then journal entry,

Ashoka's capital a/c. Dr. (120000*2/5) 48000

mukesh's capital a/c. Dr. (120000*1/5) 24000

Rakesh's capital a/c. 120000

Answer 2

Answer:

why 120000 Ashok and Mukesh