Jai and Raj are partners sharing profits in the ratio of 3 2 With effect from 1st April 2019 they de...........

Accountancy ( 12th) Change in Profit Sharing Ratio Among the Existing Partners

Jai and Raj are partners sharing profits in the ratio of 3 : 2. With effect from 1st April, 2019, they decided to share profits equally. Goodwill appeared in the books at 25,000. As on 1st April, 2019, it was valued at 1,00,000. They decided to carry goodwill in the books of the firm. Pass the Journal entry giving effect to the above.

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