Reema and Seema are partners with capitals of ₹ 50,000 each. They admit Sam as a partner with 1/4th share in the profits of the firm. Sam brings ₹ 80,000 as his share of capital. Profit and Loss Account showed a credit balance of ₹ 40,000 as on date of admission of Sam. Pass necessary Journal entries to record the goodwill.
Reema and Seema are partners with capitals of ₹ 50,000 each. They admit Sam as a partner with 1/4th share in the profits of the firm. Sam brings ₹ 80,000 as his share of capital. Profit and Loss Account showed a credit balance of ₹ 40,000 as on date of admission of Sam. Pass necessary Journal entries to record the goodwill.
Anurag Pathak Changed status to publish July 1, 2023
