CA CPT June 2019 Question Paper Fundamentals of Accounting for online practice

A and B are partners in a firm with capitals of Rs. 5,00,000 each. They admit C as a partner with 1/4" share in the profits of the firm. C brings Rs. 8,00,000 as his share of capital. The profit and loss account showed a credit balance of Rs. 4,00,000 as on the date of his admission. The value of hidden goodwill will be