will be 5:3 : 2. Pass necessary Journal entries.
27. Anu and Bhagwan were partners in a firm sharing profits in the ratio of 3 : 1. Goodwill appeared in the
books at 4,40,000. Raja was admitted to the partnership. New profit-sharing ratio among Anu, Bhagwa
and Raja was 2:2:1.
Raja brought * 1,00,000 for his capital and necessary cash for his goodwill premium. Goodwill of the fa
was valued at 2,50,000.
Record necessary Journal entries in the books of the firm for the above transactions.
(Al 2015
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