bb (Hidden Goodwill) joseph, Marco and David were partners sharing profits in the ratio...
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(Hidden Goodwill) joseph, Marco and David were partners sharing profits in the ratio of 2:2: 1. Marco retires on 1.1.2013. After all necessary adjustments (except goodwill) his capital was worked out to $ 5,00,000. However, his account was settled by paying off $ 5,60,000. Pass journal entry of the treatment of goodwill
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