Question

Mostration 23 (Premium for Goodwill withdrawn Partially).
A and B were partners in a firm sharing profits in the ratio of 4:3. They admitted C as a new
partner for 3/7th share in the profits of the firm. New profit-sharing ratio will be 2:2: 3.
C brought * 2,00,000 as his capital and 3 60,000 for his share of premium for goodwill, half
of which was withdrawn by A and B from the firm.
Calculate sacrificing ratio and
pass necessary Journal entries in the books of the firm for the
above transactions.
AI 2009 o
JOURNAL​

Answer 1

Answer:

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