Nimrat and Rantej are partners in a firm sharing profits and losses in the ratio of 5 : 3. Anahat is admitted as a new partner for 1/8th share in the profits of the firm. Anahat brings ₹ 80,000 as her capital but is not able to bring amount of goodwill. Goodwill of the firm is valued at ₹ 60,000. It is decided that new profit sharing ratio will 9 : 5 : 2. Pass necessary Journal entry for the adjustment of goodwill.
Nimrat and Rantej are partners in a firm sharing profits and losses in the ratio of 5 : 3.
Anahat is admitted as a new partner for 1/8th share in the profits of the firm. Anahat brings ₹ 80,000 as her capital but is not able to bring amount of goodwill. Goodwill of the firm is valued at ₹ 60,000.
It is decided that new profit sharing ratio will 9 : 5 : 2.
Pass necessary Journal entry for the adjustment of goodwill.
Anurag Pathak Changed status to publish July 1, 2023
