Question No 16 of TS Grewal (CBSE)

A, B and C are partners sharing profits in the ratio of 3:2:1. B retired and the new profit-sharing ratio between A and C was 2:1. On B’s retirement, the goodwill of the firm was valued at Rs. 90,000. Pass necessary Journal entry for the treatment of goodwill on B’s retirement.

Solution No 16 of TS Grewal (CBSE)

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