33 :- A and B are partners sharing profits in the ratio of 2 : 1. They admit C for 1/4th share in profits. C brings in Rs 30,000 for his capital and Rs 8,000 out of his share of Rs 10,000 for goodwill. Before admission, goodwill existed in the books at Rs 18,000.
Pass Journal entries to give effect to the above arrangement.
34 :- Rohit and Mohit were partners in a firm sharing profits and losses in the ratio of 3:2. Rahul was admitted into partnership for 1/3 share in profits. Goodwill of the firm was valued at Rs 30,000. Rahul brought Rs 40,000 as capital and Rs 5,000 out of his share of goodwill premium in cash. At the time of Rahul’s admission, goodwill was appearing in the books of the firm at Rs 15,000.
Pass the necessary journal entries for the above transactions in the books of the firm on Rahul’s admission.