Question - 15

Deepa, Neeru and Shilpa were partners in a firm sharing profits in the ratio of 5:3:2 Neeru retired and the new profit sharing ratio between Deepa and shilpa were 2:3. On Neeru retirement the goodwill of the firm was valued at Rs. 1,20,000. Record necessary journal entries for the treatment of goodwill on Neeru retirement.

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