Can anyone solve this. please state how to solve:
A & B are partners with capitals of Rs. 10,000 and Rs. 20,000 respectively and sharing profits equally. They admitted C as their third partner with one fourth share in profits of the firm on the payment of rs. 12,000. The amount of hidden goodwill is ____________
Please do state the method to solve
THANKS in ADVANCE
thanks, sir
Based on C's share ,the capital of firm ought to be 12000 *4 = 48000.
Combined Cap of A ,B,C = 10000+20000+12000 = 42000.
Hidden Goodwill = 48000-42000 = 6000.
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