Ankit and Bobby are partners sharing profits in the ratio of 2 : 1 with capital of ₹ 7,50,000 and ₹ 5,00,000. They agree to admit Kartik into partnership who brings ₹ 2,50,000 as capital and ₹ 60,000 for 1/4th share of goodwill. Goodwill already appears in the books at ₹ 45,000. Pass the necessary Journal entries by raising and writing off goodwill. Also, prepare Partner’s Capital Accounts.
Ankit and Bobby are partners sharing profits in the ratio of 2 : 1 with capital of ₹ 7,50,000 and ₹ 5,00,000. They agree to admit Kartik into partnership who brings ₹ 2,50,000 as capital and ₹ 60,000 for 1/4th share of goodwill. Goodwill already appears in the books at ₹ 45,000.
Pass the necessary Journal entries by raising and writing off goodwill. Also, prepare Partner’s Capital Accounts.
Anurag Pathak Changed status to publish May 21, 2023
