=+C, who has a similar business in Bristol, joins them as a partner and aquires equally from
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=+C, who has a similar business in Bristol, joins them as a partner and aquires equally from A and Β a 20% share of their Goodwill; in payment for the Goodwill and as his contribution to the capital of the firm, C introduces the assets, less liabilities, of his Bristol business which were:
Stock Debtors Lease of store Fixtures Creditors
£1,200
£2,600
£6,000
£2,500
£2,300.
The new firm decided that no account for Goodwill shall appear in the books; that C will continue to manage the Bristol store for which he will receive, out of the profits of that store, a partner's salary of £1,000
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