Question No 10 of TS Grewal (CBSE)
Ram, Laxman and Bharat who were sharing profits and losses in the ratio of 5:3:2, decide to share profits and losses equally with effect from 1st April. Goodwill of the firm is valued at Rs. 4,50,000. Goodwill is appearing in the books is at Rs. 75,000. Pass necessary Journal entries to record the above change.
Solution No 10 of TS Grewal (CBSE)