P,Q & R are partners sharing profits and losses in the ratio of 5:3:2. They agreed to share future profits and losses in the ratio of 2:2:1. The goodwill of the firm is valued at at ₹25,000. What will be the adjustment entry for goodwill ? (a) Q's Capital A/c Dr 2,5000 To P's Capital A/c 25,000 (b) Goodwill A/c Dr. 25,000 To P's Capital A/c 12,500 To Q's Capital A/c 7,500 To R's Capital A/c 5,000 (c) P's Capital A/c Dr. 12,500 Q's Capital A/c Dr. 7,500 R's Capital A/c Dr. 5,000 To Goodwill A/c 25,000 (d) P's Capital A/c Dr. 2,500 To Q's Capital A/c 2,500

CA CPT Dec 2018 Question Paper Fundamentals of Accounting for online practice

Question : 38 of 50

Marks: +1, -0

P,Q & R are partners sharing profits and losses in the ratio of

5:3:2

. They agreed to share future profits and losses in the ratio of

2:2:1

. The goodwill of the firm is valued at at ₹25,000. What will be the adjustment entry for goodwill ?

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