Question

p will bring 21000 of which 9000 will be treated as his share of goodwill to be retained in Business ​

Answer 1

Question :

P will bring 21,000 of which 9,000 will be treated as his share of goodwill to be retained in BBusines. Páss Journal Entries.

Answer :

It is to asked that to write Journal Entries.

Given :

Total Amount = 21,000

Goodwill Amount = 9,000

Capital Amount = 12,000

:- Journal Entry when Goodwill to be retained in Busines :

• Cash ac Dr. 21,000

To P's Capital ac. 12,000

To Goodwill ac. 9,000

( P Brought Cash as goodwill and Capital )

• Goodwill ac Dr. 9,000

To Old partner's Capital ac

( Goodwill brought by P distributed to existing Partners capital ac in sacrificing Ratio )

Look the Attachment for Alternative Method ; ( Journal Entries )

_______

Answer 2

Answer:

loss on revaluation ₹ 18000