Accountancy > Accounting For Partnership Firms > Admission Of A Partner
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Amit and Sumit were partners in a firm sharing profits in the ratio of 3:2. They admitted Chahat as a new partner for 1/4th share in the profits. Chahat brought ₹ 1,20,000 as her capital and ₹ 40,000 as her share of premium for goodwill. Amit and Sumit withdrew half of their share of premium for goodwill. The amount withdrawn by Amit was:
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