A and B are partners in a firm sharing profits and losses in the ratio of 3: 2. They admit C into partnership for 1/5th share. C brings in Rs.30,000 as capital and Rs.10,000 as goodwill. At the time of admission of C, goodwill appears in the Balance Sheet of A and B at Rs. 3,000. The new profit-sharing ratio of the partners will be 5: 3: 2. Pass necessary entries.
