Sacrificing Partners Capital Aci
To Cash/Bank Ne
Illustration 22 (Premium for Goodwill withdrawn in full).
Strong and Weak are partners sharing profits in the ratio of 2 : 3. On 1st A
admit Able as partner for 1/4th share in profits. Able brought 1,00,000 as
36,000 as premium for goodwill for his 1/4th share in the profits. New profit
of Strong, Weak and Able is agreed to be 3:3:2. Strong and Weak withdraw
for goodwill. Pass necessary Journal entries.
2.3. On 1st April, 20
00,000 as his capire
Jew profit-sharing
withdraw the pre
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