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P, Q and R were partners sharing profits in the ratio 5 : 3 : 2 respectively. P retires from the firm and Q and R decide to share future profits equally. Goodwill is valued at ₹50,000. Adjustment entry for goodwill will be :

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P, Q and R were partners sharing profits in the ratio 5 : 3 : 2 respectively. P retires from the firm and Q and R decide to share future profits equally. Goodwill is valued at ₹50,000. Adjustment entry for goodwill will be :






 
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