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X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for which he pays ₹ 30,000 for goodwill in cash. X, Y and Z decided to share future profits in equal proportion

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Anurag Pathak27.13K August 28, 2024 0 Comments

X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for which he pays ₹ 30,000 for goodwill in cash. X, Y and Z decided to share future profits in equal proportion. You are required to pass necessary journal entries to give effect to the above.

Anurag Pathak Answered question August 28, 2024

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Anurag Pathak27.13K Posted August 28, 2024 0 Comments

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Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

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X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for which he pays ₹ 30,000 for goodwill in cash. X, Y and Z decided to share future profits in equal proportion

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Anurag Pathak

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Anurag Pathak

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