X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2, decided to share future profits and losses equally with effect from 1st April, 2019. On that date, the goodwill appeared in the books at Rs. 12,000. But it was revalued at Rs. 30,000. Pass Journal entries assuming that goodwill will not appear in the books of account.


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