Question

TREATMENT OF GOODWILL <br />A and B are partners in a firm sharing profit ratio in the ratio 2 : 3. They admit C into partnership as a partner with 1/6th share in profits who brought Rs.70,000 as capital and Rs. 10,000 as his share of goodwill. The new profit sharing ratio agreed to be 3 : 2 : 1. Record these transactions in journal of firm. explain full. ​

Answer 1

Answer:

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