Question

Hanny, Pammy and Sunny are partners sharing profits in the ratio of 3 : 2 : 1.
Goodwill is appearing in the books at a value of Rs. 60,000. Pammy retires and
at the time of Pammy’s retirement, goodwill is valued at Rs. 84,000. Hanny and Sunny decided to share future profits in the ratio of 2:1. Record the necessary journal entries.

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Final Accounts for Partnership

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