Question

P and q are partner in a firm sharing profits and losses in ratio of 3:2.Their capitals are 80,000 and 50,000 respectively. Their admit Z as a new partner. Zbrings in 60,000 as his capital for 1/5th share in the profits. Find out the amount of goodwill on the basis of the above information and also calculate their new profit Sharing ratio.

Answer 1

here is full calculation I hope you will get it.. if you have any problem then you can ask me.