1.

(A) A, B & C are partners in a firm sharing profits in the rao of 4:3: 1. A reres and his share is taken up by B and C equally. Find the new profit sharing rao and the gaining rao. (B) The good will of the firm is valued at Rs. 16,000. No goodwill account appears in the books. Pass necessary journal entry for recording the goodwill in the above menoned case.

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