Question

X and Y are partners in a firm sharing profits in the ratio of 3:2. On
January 01, 2012, they admit Z as a new partner for 3/13th share
in the profits. The new ratio will be 5:5:3. Z contributes the
following assets towards his capital and for his share of goodwill:
Stock * 40,000; Debtors *35,000; Land *25,000 and Plant and
Machinery 45,000.
On the date of admission of Z, the goodwill of the firm was valued
at 45,000. On the date of admission of Z, the goodwill was
valued at 3,25,000. Record the necessary journal entries as well
as working notes.​

Answer 1

Answer:

3,05,000 this is the answer