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Gulab and Khushbu were partners in a firm sharing profits in the ratio of 3:2. From 1st April, 2014, Kanta joined as a partner for ⅕share and they decided to share future profits in the ratio 5:3:2. For this purpose, the goodwill of the firm was valued at ₹2,50,000.Pass necessary journal entry for the treatment of goodwill on change in the profit sharing ratio of Gulab, Khushbu and Kanta. |
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Answer» Explanation: GULAB and Khushbu were partners in a firm sharing profits in the ratio of 3:2. From 1st APRIL, 2014, Kanta JOINED as a partner for ⅕ SHARE and they decided to share future profits in the ratio 5:3:2. For this purpose, the goodwill of the firm was valued at ₹2,50,000. Pass necessary journal entry for the TREATMENT of goodwill on change in the profit sharing ratio of Gulab, Khushbu and Kanta. please make me brainlist bro h ffj64j8tefpjuxt |
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