Question

X y and z are partners in a firm sharing profits in the ratio 2:2:1 y retired in 1 April 2020 goodwill of the firm was valued at 70000...

Answer 1

Answer:

Ratio of partner X:Y:Z = 2:2:1

Y retired then , ganing ratio of X:Z = 2:1

Goodwill of firm = 70000

Y share of goodwill = 70000 × 2/5 = 28000

Explanation: