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Neetu meetu and Titu your partner …

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Neetu meetu and Titu your partner in a firm on 1st January 2018 me to retire on meetu retirement the Goodwill of the firm as valued at 420000 general entry for the treatment of goodwill on meetu retirnment

Posted by Badam Lodi 6 years, 11 months ago

CBSE > Class 12 > Accountancy

2 answers

Nikhil Kumar 6 years, 11 months ago

it assumes that they share profit equally Meetu's share in goodwill= 4,20,000 × 1/3=1,40,000 and meetu's cap.A/c credit by 1,40,000 and netu or titu A/c debited in the gaining raitio i.e. 1:1

Mayank Singh 6 years, 11 months ago

Neetu's capital a/c Dr. 70000 Titu's capital a/c Dr. 70000 To Meetu's capital a/c 140000

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