Atal and Jawahar are partners with capital of ₹ 1,30,000 and ₹ 90,000 respectively. They admit Mohan as a partner with 1/5th share in the profits fo the firm. Mohan brings in ₹ 80,000 as capital and also his share of goodwill. Goodwill is to be calculated on the basis of Mohan’s share in the profits and capital contributed by him. Pass necessary Journal entries.
Atal and Jawahar are partners with capital of ₹ 1,30,000 and ₹ 90,000 respectively. They admit Mohan as a partner with 1/5th share in the profits fo the firm. Mohan brings in ₹ 80,000 as capital and also his share of goodwill. Goodwill is to be calculated on the basis of Mohan’s share in the profits and capital contributed by him. Pass necessary Journal entries.
Anurag Pathak Changed status to publish July 1, 2023
