Question

( goodwill is to be calculated and not brought in cash ) A and B are partners sharing profit in the ratio of 2/5 and 3/5 . They admit C as a partner who brings in Rs .10000 as capital . Goodwill is to be valued at three years purchase of the five years average profit . The profit for the year were Rs. 2500 ,Rs. 3500 , Rs. 5500 , Rs 4000 and Rs 4500 The new profit sharing ratio will be 2/5 ,2/5 and 1/5 goodwill a/c appears in the books Rs . 3000​

Answer 1

Answer:

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