Vijay, Ravi and Raman were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 1 st April, 2024, they admitted Kamal as a new partner for 1/10 th share in the profits. It was decided that new profit sharing ratio will be 4 : 2 : 3 : 1. On Kamal’s admission the goodwill of the firm was valued at ₹6,00,000. Kamal brought his share of goodwill premium in cash.
(i) Calculate the sacrificing ratio.
(ii) Pass necessary journal entries for the treatment of goodwill on Kamal admission.
Show your working notes clearly.

Marks-3, CBSE: 2024-25/Zone-5/Set-1/Q-18(b)