A and B are partners sharing profits and losses in the ratio of 2 : 5. They admit C on the condition that he will bring in Rs 14,000 as his share of goodwill in cash to be distributed between A and B. C’s share in the future profits or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill brought in by C will be received by A and B.
