X, Y and Z are three partners sharing profits and losses in the ratio of 2:2:1 retires and Goodwill of the firm is valued at ₹60,000 . No goodwill account appears in the books of the firm. Pass necessary journal entries for goodwill. When goodwill account is adjusted through partners capital accounts.
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Explanation:
24000y.24000z 12000 to good will being goodwill distribute by all partnaers
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