Blog

P, Q and R share profits in the ratio of 5: 4: 3. R retires and the new ratio is 5: 3. If is given Rs. 6,000 as goodwill, what will be the journal entry?

SOLUTION

P’s Capital A/c                Dr.       5,000
Q’s Capital A/c               Dr.       1,000
To R’s Capital A/c                              6,000







Leave a Reply