X, Y and Z are partners …
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X, Y and Z are partners sharing profit 2:3:5 goodwill is apearing in books X rituires of the X retires goodwill is valued 45000 Y and Z Dissed future profit equaly pass necessary journal entry
Posted by Yogesh Kathade 6 years, 9 months ago
- 2 answers
Mrinal Kumar 6 years, 9 months ago
Y A/c..................Dr 9000
To X A/c 9000
(Being Goodwill shared betweem Y and Z in their gaining ratio)
Working Notes
Gaining Ratio
Y = 1/2 - 3/10 = 2/10
Z = 1/2 - 5/10 = NIL
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Mrinal Kumar 6 years, 9 months ago
Y A/c..................Dr 9000
To X A/c 9000
(Being Goodwill shared betweem Y and Z in their gaining ratio)
Working Notes
Gaining Ratio
Y = 1/2 - 3/10 = 2/10
Z = 1/2 - 5/10 = NIL
Assumption: No Goodwill is raised in the books of accounts of Y and Z. If this assumption changes, then the answer will be
Goodwill A/c.............Dr 45000
To X A/c 9000
To Y A/c 13500
To Z A/c 22500
(Being Goodwill raised in the books of accounts of Y And Z)
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