X, Y and Z are partners sharing profits in the ratio of 5 : 4 : 1. It is now agreed that they n
Channel: Doubtnut
Date: 26/04/2020

X, Y and Z are partners sharing profits in the ratio of 5 : 4 : 1. It is now agreed that they will share future profits in the ratio of 3 : 3 : 4. Goodwill is valued at Rs. 1,00,000. You are required to pass a single journal entry for the treatment of goodwill.