DY
Pare
40. X and Y are partners sharing profits in the ratio of 3:2. They admit Z into the firm for 3/7th profits

Question

DY
Pare
40. X and Y are partners sharing profits in the ratio of 3:2. They admit Z into the firm for 3/7th profits which
he takes 2/7th from X and 1/7th from Y and brings 3,000 as premium out of his share of 4,800. Goodwill account
does not appear in the books. Give journal entries.
(Ans, Amount of goodwill credited to X and Y’s Capital A/cs. 3,200 and
1,600 respectively in their sacrificing
ratio.]

Evelyn · Answer

Answer:   9,500 this is the answer

Everleigh

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DYPare40. X and Y are partners sharing profits in the ratio of 3:2. They admit Z into the firm for 3/7th profits