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Hari, Ram and Shyam who were sharing profits and losses in the ratio of 5 : 3 : 2, decide to share future profits and losses in the ratio of 2 : 2 : 1.

Goodwill of the firm is valued at ₹ 1,00,000. Goodwill existing in the books is ₹ 40,000.

Show the necessary accounting treatment by raising Goodwill Account.

Anurag Pathak Changed status to publish April 28, 2023
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