Making alteration for goodwill

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Reference no: EM13906612

Following is balance sheet of A, B and C who offer benefits and misfortunes in the proportion of 7: 5: 3 separately.

On 31st March, 2011 C resigns on the condition that he be quickly paid the sum because of a great many making alteration for goodwill which is esteemed at Rs. 22,500. A and B consent to share benefits and misfortunes in the proportion of 8:7 separately in future.

Show diary passages and monetary record in each of the accompanying cases:

(a) Goodwill Account is raised just with C's offer of goodwill.

(b) No Goodwill record is raised yet changes are made in the capital records with resigning accomplice's offer of goodwill.

Reference no: EM13906612

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