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pl. tel me what is the entry for this transaction
1)i deposited rs.10,000 t/w. dealer ship deposit
2)the goodwill amount 1 lakh brought by raju was
appoprtioned and paid to the existing parteners
eswar,mahesh,ravi as per their sharing ratios 38% , 24%, 38%
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Answer Posted / sankeerthana
1.Dealesrship deposit a/c Dr 10,000/-
To Cash/Bank a/c 10,000/-
(Being deposit made for Dealesrship deposit)
2.Goodwill a/c Dr 1,00,000/-
To Eswar a/c 38,000/-
To Mahesh a/c 24,000/-
To Ravi a/c 38,000/-
(Being Goodwill apportioned among the existing partners)
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and more about practical Journal entries. This is the only
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Sankeerthana
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