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Give journal entries

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Question - Neeta and Sumita are partners sharing profits and losses in the ratios of 2:1. They admit Reeta as a partner for 1/4th share. Reeta pays Rs. 50,000 as capital but does not bring any amount for goodwill. The goodwill of the new firm is valued at Rs. 36,000. Give Journal entries.

Reference no: EM132967627

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