A B and C shared profits and losses in the ratio of 3 2 1 respectively With effect from 1st April 20......

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Accountancy ( 12th) Goodwill Nature and Valuation Add to Study Deck

A, B and C shared profits and losses in the ratio of 3 : 2 : 1 respectively. With effect from 1st April, 2019, they agreed to share profits equally. The goodwill of the firm was valued at 18,000. Pass necessary Journal entries when: a

Goodwill is adjusted through Partners' Capital Accounts; and b

Goodwill is raised and written off.

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Goodwill Nature and Valuation

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