(Goodwill Existing in the Books at the T...

(Goodwill Existing in the Books at the Time of Admission and wirtten off).
X and Y are partners in a firm sharing profits in the ratio 4:3. On 1st April, 2019, they admitted Z as partner. Z brought in RS 1,00,000 for his capital and RS 21,000 for 1/3rd share of goodwill premium. On Z's admission, goodwill appeared in the books of the firm at RS 28,000.
Pass necessary Journal entries on Z's admission.

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