p q and r are partners sharing profits in the ratio of 5:3:2
p retires and the goodwill of the firm is valued at rs 20000.pass journa entry for the treatment of goodwill on p'sretirement
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P's G/w share 20000*5/10
=10000
Gaining share of q = 3/5
Gaining share of r = 2/5
journal entry
Q's capital A/C Dr. 6000
R's capital A/C. Dr. 4000
To P's capital A/C. 10000
(Being adjustment entry made for G/W)
Dear Hope it's help you...!!!
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