.Mr. A commenced business with a capital of 2,50,000 on 1st April, 2013. During the five years ended 31st March, 2018, the following profits and losses were made: 31st March, 2014−Loss 5,000

31st March, 2015−Profit 13,000 31st March, 2016−Profit 17,000 31st March, 2017−Profit 20,000 31st March, 2018−Profit 25,000

During this period he had drawn 40,000 for his personal use. On 1st April, 2018, he admitted B into partnership on the following terms:

B to bring for his half share in the business, capital equal to A's Capital on 31st March, 2018 and to pay for the one-half share of goodwill of the business, on the basis of three times the average profit of the last five years. Prepare the statement showing what amount B should invest to become a partner and pass entries to record the transactions relating to admission.