Question

Bino and joy are partners in the ratio of 4:3.They admitted anjely as a new partner for 1/4th share in profit.Anjely brought RS.14000 as her share of goodwill.Record neccessary journal entries in the book of the firm.
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Answer 1

Answer:

for bringing cash for goodwill

cash a/c. Dr. 14000

to anjaly capital a/c. 14000

for sharing goodwill between old partners in their old ratio

Anjali capital a/c. Dr. 14000

to bino a/c. {14000×4÷7=8000}. 8000

to joy a/c. {14000×3÷7=6000}. 6000

Explanation:

here they said only information for goodwill.so we write the entries only for goodwill