A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the
Channel: Doubtnut
Date: 29/03/2020

A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the condition that he will bring RS.14,000 as his share of goodwill to be disributed between A and B C\'s share in the future profit or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by C will be received by A and B?