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Answer:
TREATMENT OF GOODWILL
A and B are partners in a firm sharing profit ratio in the ratio 2 : 3. They admit C into partnership as a partner with 1/6th share in profits who brought Rs.70,000 as capital and Rs. 10,000 as his share of goodwill. The new profit sharing ratio agreed to be 3 : 2 : 1. Record these transactions in journal of firm.
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Let the present age of the son be x and that to of his father which is 7 times =7x
Then, 2 years ago their ages :
(x-2) of