Question - 32

Rajesh and Mukesh are equal partners in a firm they admit Hari into partnership and the new profit sharing ratio between Rajesh, Mukesh and Hari is 4:3:2 on Hari's admission goodwill of the firm is valued at Rs. 36,000 Hari is unable to bring his share of goodwill premium in cash Rajesh, Mukesh and Hari decided not do show goodwill in their balance sheet record necessary journal entries for the treatment of goodwill on Hari's admission.

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