Question

the e
a Hidden Goodwill
15. Lalit, Mohit and Nitish are partners in 4:3:3 ratio. Nitish retires from the firm. His ca
1,50,000 and his share in reserves and profit on revaluation was * 20,000 and
respectively. Lalit and Mohit agreed to pay him * 2,21,000 on retirement. Pass Journa
the treatment of goodwill.​

Answer 1

Answer:

hidden g/w = 221000- 170000 = 51000

Explanation:

journal

lalit's capital a/c Dr. 29143

Mohit's capital a/c Dr. 21857

To Nitish cap a/c 51000