\( X \) and \( Y \) are partners with capitals of \( \Re 50,000 \) each. They admit \( Z \) as a partner with \( 1 / 4^{\text {th }} \) share . Z brings in श 80,000 as his capital. The profit and loss account showed a debit Give journals to record goodwill.

Question

 X and  Y  are partners with capitals of Re 50,000 each. They admit Z as a partner with 1/4th share . Z brings in Re 80,000 as his capital. The profit and loss account showed a debit balance of Re 30,000 and Reserve Re 70,000 as on date of admission. Give journals to record goodwill.