Solution
Disha and Divya are partners in a firm sharing profits in the ratio of 3 : 2 respectively. The fixed capital of Disha is Rs. 4,80,000 and of Divya is Rs. 3,00,000. On 1st April, 2019 they admitted Hina as a new partner for 1/5th share in future profits. Hina brought Rs. 3,00,000 as her capital. Calculate value of goodwill of the firm and record necessary Journal entries on Hina’s admission.