Balances of A, B & C sharing profits & losses in proportionate to their capitals, stood...
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Balances of A, B & C sharing profits & losses in proportionate to their capitals, stood as: A = Rs.2, 00, 000 B = Rs.3, 00, 000 C = Rs.2,00,000 A desired to retire from the firm, B and C share the future profits equally, Goodwill of the entire firm be valued at Rs.1, 40, 000 and no Goodwill account being raised. What entry will be passed for payment of Goodwill? Balances of A, B & C sharing profits & losses in proportionate to their capitals, stood as: A = Rs.2, 00, 000 B = Rs.3, 00, 000 C = Rs.2,00,000 A desired to retire from the firm, B and C share the future profits equally, Goodwill of the entire firm be valued at Rs.1, 40, 000 and no Goodwill account being raised. What entry will be passed for payment of Goodwill?
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A s share in Good will Rs 1 40 000 x 2 00 000 7 00 000 Rs 4... View the full answer
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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