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Q. X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. They decided to share future profits and losses equally with effect from 1st April, 2013. On that date, the goodwill appeared in the books at 12,000. But it was revalued at Rs 30,000. Pass the Journal entries assuming that no goodwill appear in the books of accounts.

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