Question - 18

Keshav, Nirmal and Pankaj are partenrs sharing profits and losses in the ratio of 4:3:2. Nirmal retires and the goodwill is valued at Rs. 72,000. Keshav and pankaj decided to share future profits and losses in the ratio of 5:3 Record necessary journal entries.

  1. When goodwill is raised at its full value and written off immediately.
  2. When goodwill is not to appear in firms books ar all.
NOTE : Please purchase the book for looking question.