Arun, Varun and Tarun are partners sharing profits and losses in the ratio of 3 : 2 : 1.

They decide to share profit and losses equally with effect from 1st April 2023.

Goodwill of the firm is valued at ₹ 1,20,000.

Pass Journal entries when goodwill is raised and written off.

Anurag Pathak Changed status to publish April 26, 2023
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