Ravi, Mukesh, Naresh and Yogesh are partners in a firm sharing profits in the ratio of 2 : 2 : 1 : 1. On Mukesh’s retirement the goodwill of the firm is valued at ₹ 90,000
Ravi, Mukesh, Naresh and Yogesh are partners in a firm sharing profits in the ratio of 2 : 2 : 1 : 1. On Mukesh’s retirement the goodwill of the firm is valued at ₹ 90,000. Ravi, Naresh and Yogesh to share future profits equally. Pass the necessary journal entry for the treatment of goodwill.
Anurag Pathak Answered question 2 days ago