Question

(Premium brought in Kind). X and Y are partners in a firm sharing profits in
the ratio of 3 : 2. On 1st April, 2017, they admit Z as new partner for 3/13th share in the
profits. New ratio will be 5 : 5:3. Z contributed the following assets to his capital and his
share for goodwill: Stock ? 80,000; Debtors ? 1,20,000; Land ? 2,00,000, Plant and Machinery
1 1.20,000. On the date of admission of Z, goodwill of the firm was valued at 7 10,40,000
Pass necessary Journal entries in the books of the firm on Z's admission.​

Answer 1

Explanation:

hey i think there is some mistake in amounts cause its answer includes decimals

which is not explainable

for ₹

I HAVE KEPT THE AMOUNT COLUMN BLANK BUT ENTRIES ARE RIGT SO IT MAY BE EASY FOR U TOO