Ram and Shyam are partners. Their profit-sharing ratio is 3:2. Mohan joins the partnership for 1/4th
share in profits (of which he acquires 2/3 from Ram and 1/3 from Shyam. Mohan brings in Rs. 6,00,000
for capital and Rs. 2,40,000 for goodwill. 1/4 of the amount of goodwill is withdrawn by old partners.
Pass necessary Journal entries and find out new profit sharing ratio.
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