The partners are to change their profit ratios as shown: They decide to bring in a goodwill

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The partners are to change their profit ratios as shown: image text in transcribed

They decide to bring in a goodwill amount of £18,000 on the change. The last balance sheet before any element of goodwill has been introduced was: image text in transcribed

Show the balance sheets on 1 July 20X8 after necessary adjustments have been made if:

(a) Goodwill account was opened.

(b) Goodwill account was not opened.

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Frank Woods Business Accounting

ISBN: 9780273655527

9th Edition

Authors: Frank Wood, Alan Sangster

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Question Posted: Jun 11, 2024 01:02 AM

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The partners are to change their profit ratios as shown: They decide to bring in a goodwill

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ABCD Old ratio New ratio 3432 2341

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Frank Woods Business Accounting

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