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X and y are partners sharing …

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X and y are partners sharing profit in the ratio of 3:2 goodwill appears in their balance sheet at ₹60000. Z is admitted as a new partner for 1/4th share in the profits. The Total goodwill of the firm is valued at ₹200000. Pass journal entries if: 1. Z cannot bring in cash his share of goodwill. 2. Z brings in cash his share of goodwill.
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