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(Hidden Goodwill). X and Y are partners sharing profits in the ratio of 3:2 have capitals of $1,00,000 and $ 1,20,000 respectively. Z is

(Hidden Goodwill). X and Y are partners sharing profits in the ratio of 3:2 have capitals of $1,00,000 and $ 1,20,000 respectively. Z is admitted with 1/5th share in the profits. Z brings $ 90,000 as his share of capital. Give journal entries to record Goodwill.

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