Question - 35

X and Y are partners in a firm in the ratio of 3:2 respectively they admit Z into partnship for 1/4th share, X and Y will sacrifice for Z in the ratio of 2:1 respectively goodwill already exists in the books of the firm at Rs. 40,000 Z has to bring Rs. 60,000 for his share of premium for goodwill but he brings only Rs. 36,000 pass necessary journal entries in the books of new firm.

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