1.

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.​

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



Discussion

No Comment Found

Related InterviewSolutions