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Sunny & Sonam are partners in …

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Sunny & Sonam are partners in a firm. They admit kiran as a partner with 1/4 share in profits of the firm. Kiran brings Rs 6,00,000 as his share of capital. The value if the total assets of the firmis Rs 16,20,000 & outside liabilities are valued at Rs 3,00,000 on the date. Give the necessary entry to record goodwill at the time of kirab's admission. Also show your working notes.

Posted by Monika Gupta 8 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Nisha Deshwal 8 years, 3 months ago

Kiran's current a/c Dr. 2,20,000 ; To sunny cap.a/c by 1,10,000; To sonam cap. a/c by 1,10,000

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