Question

Q. 37. A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit C into partnership for 1/3rd share of profits . C brings Capital of 2,00,000. Goodwill is valued at $1,50,000. Show what entries shall be made in the following cases: (i) Goodwill does not appear in the books; (ii) Goodwill appears in the books at 90,000; (iii) Goodwill appears in the books at 1,80,000. [Ans. Goodwill appearing in the books will be written off between A and B in 3:2. C's Current A/c will be debited by his share of goodwill 50,000 and Capital Accounts of A and B will be credited in 3:2.]​

Answer 1

Answer:

option (ii) Goodwill appears in the books at 90,000

this is the right answer

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