Jaya, Kirti, Ekta and Shewata are partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2 : 1. On Jaya’s retirement, the goodwill of the firm is valued at Rs. 36,000. Kirti, Ekta and Shewata decided to share future profits equally.Record the necessary journal entry for the treatment of goodwill without opening ’Goodwill Account’.
Jaya, Kirti, Ekta and Shewata are partners in a firm sharing profits and losses in the ratio of 2 : 1 : 2 : 1. On Jaya’s retirement, the goodwill of the firm is valued at Rs. 36,000. Kirti, Ekta and Shewata decided to share future profits equally.Record the necessary journal entry for the treatment of goodwill without opening ’Goodwill Account’.
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 1EB: The partnership of Michelle, Amal, and Maureen has done well. The three partners have shared profits...
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Jaya, Kirti, Ekta and Shewata are partners in a firm sharing
Record the necessary
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