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Amar, Ram, Mohan and Sohan were …

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Amar, Ram, Mohan and Sohan were partners in a firm sharing profits in the ratio of 2:2:2:1. On 31st January, 2018, Sohan retired. On Sohan’s retirement the Goodwill of the firm was valued at Rs. 70,000. The New Profit sharing ratio among Amar, Ram, Mohan and Mohan was agreed as 5:1:1. Showing your working notes clearly, pass necessary Journal entry for the treatment of Goodwill in the books of firm on Sohan’s retirement.

Posted by Vikash Prasad 2 years, 10 months ago

CBSE > Class 12 > Accountancy

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Rishita Rawat 2 years, 10 months ago

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