Rajat and Amar are partners with capitals of ₹ 90,000 respectively. They admit Karan into partnership for 1/5th sahre in the profit of the firm. Karan brings ₹ 80,000 as his capital but is unable to bring for goodwill. Goodwill is to be calculated on the basis of Karan’s share in the profits and the capital contributed by him. Give Journal entries to record the goodwill.
Rajat and Amar are partners with capitals of ₹ 90,000 respectively. They admit Karan into partnership for 1/5th sahre in the profit of the firm. Karan brings ₹ 80,000 as his capital but is unable to bring for goodwill. Goodwill is to be calculated on the basis of Karan’s share in the profits and the capital contributed by him. Give Journal entries to record the goodwill.
Anurag Pathak Changed status to publish July 1, 2023
