A,B,C and D are partners in a firm profit sharing ratio of 2:2:1:1. They
decided to share profits in future in the ratio of 4:3:2:1. For this purpose
goodwill of the firm was valued at Rs. 1,80,000. There was a reserves of
60,000 in the books of the firm.
Find out sacrifice ratio and gaining ratio and pass the necessary journal
entries assuming that partners do not want to distribute the reserve
decided to share profits in future in the ratio of 4:3:2:1. For this purpose
goodwill of the firm was valued at Rs. 1,80,000. There was a reserves of
60,000 in the books of the firm.
Find out sacrifice ratio and gaining ratio and pass the necessary journal
entries assuming that partners do not want to distribute the reserve
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Play and we are partners in profit sharing ratio of 3:2 admit c as a partner for 3/13 share in the profits on the date of admission the Goodwill of the firm was valued at 650000 the new profit sharing ratio will be 5:5:3 into partnership that are 160000 computers 140000 machinery 60000 Goodwill a valued at 120000 the capital six lakh record general entry
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