Ashish, Naresh and Yogesh were partners in a firm sharing profits in the ratio of 3 : 2 : 1. Yogesh retires and the new profit-sharing ratio between Ashish and Naresh was 1 : 2. On Yogesh’s retirement, goodwill of the firm was valued at ₹ 45,000. Pass necessary Journal entries for the treatment of goodwill on Yogesh’s retirement.

Anurag Pathak Changed status to publish March 3, 2024
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