Question - 39

Abhay and Beena are partners in a firm they admit chetan for 1/4th share in the profits of the firm chetan brings Rs. 2,00,000 as his share of capital value of total assets of the firm is Rs. 5,40,000 and external liabilities are valuated at Rs. 1,00,000 on that date give necessary journal entries to record hidden goodwill on chetan's admission also show your working notes.

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