Neetu, Meentu and Teetu were partners in a firm. On 1st January, 2018, Meetu retired. On Meetu's retirement the goodwill of the firm was valued at Rs. $4, 20, 000$ .
Pass necessary journal entry for the treatment of goodwill on Meetu's retirement.

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Solution

Goodwill A/c Dr. 4.20,000
To Neetu's capital A/c 1,40,000
To Meentu's capital A/c 1.40.000
To Teetu's capital A/c 1,40,000

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Neetu, Meentu and Teetu were partners in a firm. On 1st January, 2018, Meetu retired. On Meetu's retirement the goodwill of the firm was valued at Rs. 4,20,000.Pass necessary journal entry for the treatment of goodwill on Meetu's retirement.

Goodwill A/c Dr. 4.20,000 To Neetu's capital A/c 1,40,000 To Meentu's capital A/c 1.40.000 To Teetu's capital A/c 1,40,000

Neetu, Meentu and Teetu were partners in a firm. On 1st January, 2018, Meetu retired. On Meetu's retirement the goodwill of the firm was valued at Rs. $4, 20, 000$ .
Pass necessary journal entry for the treatment of goodwill on Meetu's retirement.

Goodwill A/c Dr. 4.20,000
To Neetu's capital A/c 1,40,000
To Meentu's capital A/c 1.40.000
To Teetu's capital A/c 1,40,000