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Question
Match the following items:
| (i) | Hidden Goodwill (at the time of admission) | (a) | Written off in new profit sharing ratio |
| (ii) | Goodwill appearing in the books (at the time of change in profit sharing ratio) | (b) | Written off in old profit sharing ratio |
| (c) | Total capital based on new partner's share (−) total of all partners capital | ||
| (d) | Total of all partners capital (−) total capital based on new partner's share |
Match the Columns
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Solution
| (i) | Hidden Goodwill (at the time of admission) | (c) | Total capital based on new partner's share (−) total of all partners capital |
| (ii) | Goodwill appearing in the books (at the time of change in profit sharing ratio) | (b) | Written off in old profit sharing ratio |
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