A and B who shared profits in the proportion of 5 : 3 had capitals of

1.	A and B who shared profits in the proportion of 5 : 3 had capitals of Rs 70,000 and Rs40,000 respectively. They agree to admit C into partnership for th share in future profits. C brings Rs 30,000 as capital and is unable to bring Rs 1,600 as his share of goodwill in cash and Goodwill already appearing in the books at Rs 4,000
Answer» ANSWER: RAHUL A/c Dr. Kamal A/c Dr. To KAUSHAL A/c Kamal A/c Dr. CASH A/c Dr. To GOODWILL A/c Rahul A/c Dr. LoanA/c Dr. To Cash A/c

A and B who shared profits in the proportion of 5 : 3 had capitals of Rs 70,000 and Rs40,000 respectively. They agree to admit C into partnership for th share in future profits. C brings Rs 30,000 as capital and is unable to bring Rs 1,600 as his share of goodwill in cash and Goodwill already appearing in the books at Rs 4,000

Answer»

ANSWER:

RAHUL A/c Dr.

Kamal A/c Dr.

To KAUSHAL A/c

Kamal A/c Dr.

CASH A/c Dr.

To GOODWILL A/c

Rahul A/c Dr.

LoanA/c Dr.

To Cash A/c

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