Ridhi, Param and Yashika were partners sharing profits and losses in the ratio of 3:3:2. They agree to admit Mohit as a new partner in the firm for 1/5th share. New profit-sharing ratio was decided by the partners and added to the agreement. New partner could bring only 75% of his share of premium in cash. Following entries were passed at if time of admission. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total Goodwill of the firm: |
A) 4,50,000
B) 5,00,000
C) 5,50,000
D) 6,00,000
Correct Answer: D
Solution :
6,00,000You need to login to perform this action.
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