=+On 1st January, 1958, C was admitted as a new partner. It was decided to raise a
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=+On 1st January, 1958, C was admitted as a new partner. It was decided to raise a Goodwill Account in the books of the firm and the value placed upon this asset was £6,000. The profit sharing ratio of the new firm was A: one-half, B: one-third and C: one-sixth.
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