1.

A and B are partner in a firm sharing profit and losses in the ratio of 3 :2 they admit r are as a partner of 1 /4 share in the the profit of the farm are bringing rupees 600000 as his capital and his share of goodwill encash Goodwill of the firm is to be value at 2 year purchase of average profit of the last four years the profit of last 4 year are given below. Year2013-14 2014-15 2015-16 2016-17 (1) to cover management cost and involved charge of RS 56250should be made for the purpose of valuation of goodwill (2) the closing stock of the year ended 31 March 2017 was overvalued by rupees 15000 for the necessary journal entries on admissionR showing the working noteclearly

Answer»

the will GET 300000 they will be SHARING this MUCH of PROFIT



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