Kavi, Ravi, Kumar and Guru were partners in a firm sharing profits in the ratio of...
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Kavi, Ravi, Kumar and Guru were partners in a firm sharing profits in the ratio of 3: 2:2:1. On. 1/2/2017, Guru retired and the new profit sharing ratio decided between Kavi, Ravi and Kumar was 3: 1: 1. On Guru's retirement the goodwill of the firm was valued at Rs.3, 60, 000. Showing your working notes clearly, pass necessary journal entry in the books of the firm for the treatment of goodwill on Guru's retirement. Kavi, Ravi, Kumar and Guru were partners in a firm sharing profits in the ratio of 3: 2:2:1. On. 1/2/2017, Guru retired and the new profit sharing ratio decided between Kavi, Ravi and Kumar was 3: 1: 1. On Guru's retirement the goodwill of the firm was valued at Rs.3, 60, 000. Showing your working notes clearly, pass necessary journal entry in the books of the firm for the treatment of goodwill on Guru's retirement.
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Related Book For
Statistics for the Life Sciences
ISBN: 978-0321989581
5th edition
Authors: Myra Samuels, Jeffrey Witmer, Andrew Schaffner
Posted Date:
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