Question

11. Mahi and Rajat were in partnership sharing profits and losses in the ratio of 4:3. They admitted Kripa as
a new partner. Kripa brought 60,000 as her share of goodwill premium which was entirely credited to
Mahi's Capital Account. On the date of admission, goodwill of the firm was valued at 4,20,000. Calculate
the new profit-sharing ratio of Mahi, Rajat and Kripa.
(CBSE 2020
TAns.. New Ratio of Mahi. Raiat and Kripa = 3.3.1​

Answer 1

Given:

Partnership ratio = 4:3

Kripa's share = 60,000

Goodwill = 4,20,000

To Find:

New profit-sharing ratio of Mahi, Rajat and Kripa.

Solution:

Since the partnership ratio is 4:3, thus,

Mahis share = 4/7 and

Rajat's share = 3/7

Kripa's share of goodwill = 60,000/4,20,000

= 1/7

Since, the goodwill was entirely credited to Mahi;s account, thus Rajat's new share

= 3/1 - 1/7

= 2/7

Answer: Profit-sharing ratio of Mahi, Rajat and Kripa is 4:2:1