Kapil, Angad and Gush are partners sharing profits in the ratio of 1 : 2 : 3. Gush retires and his capital, after making adjustments for reserves and profits on revaluation stands at ₹ 2,70,000. Kapil and Angad agreed to pay him ₹ 3,00,000 in full settlement of his claim. Record necessary Journal entry for the treatment of goodwill if new profit-sharing ratio is decided at 1 : 3.

Anurag Pathak Changed status to publish March 3, 2024
Add a Comment