Tomm dik and hary are partners sharing profit of ratio 5:3:2. Tom want's to retire. his share has been taken by dik and hary in the ratio of 1 : 4 respectively. Goodwill appears in the book of the firm ₹ 50,000. However the goodwill has now been valued at 1,50,000 for the purpose of retirement of tom. Give necessary journal entries for treatment of goodwill on retirement of tom .
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Tomm dik and hary are partners sharing profit of ratio 5:3:2. Tom want's to retire. his share has been taken by dik and hary in the ratio of 1 : 4 respectively. Goodwill appears in the book of the firm ₹ 50,000. However the goodwill has now been valued at 1,50,000 for the purpose of retirement of tom. Give necessary journal entries for treatment of goodwill on retirement of tom .
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