(When two Partners are Simultaneously Admitted). A, B and C are in partnership sharing profi
Channel: Doubtnut
Date: 29/03/2020

(When two Partners are Simultaneously Admitted). A, B and C are in partnership sharing profits and losses in the ratio of 5 : 4 : 1 respectively. Two new partnres D and E are admittd. Profits are to be shared in the ratio of 3 : 4 : 2 : 2 : 1 respectively. D is to pay RS 30,000 for his share of goodwill but E is unble to pay for goodwill. Both the new partners introduced RS 40,000 each as their capital. Passs necessary Jonrnal entries.