A, B, C and D are partners in a firm sharing profits in the ratio of 2 : 1 : 2 : 1. On the retirement of C, Goodwill was valued

A, B, C and D are partners in a firm sharing profits in the ratio of 2 : 1 : 2 : 1. On the retirement of C, Goodwill was valued Rs. 1,80,000. A, B and D decide to share future profits equally. Pass the necessary journal entry for the treatment of goodwill.

A, B, C and D are partners in a firm sharing profits in the ratio of 2 : 1 : 2 : 1. On the retirement of C, Goodwill was valued Rs. 1,80,000.

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