Question

12. A is a sole trader having capital of = 10,000 on 1.4.2009. He admitted B
as a partner on 30.06.2009. B paid + 8,000 as capital. On 30.9.2009 C
was admitted into firm who paid = 10,000 as capital. The account of the
firm are closed on 31st March and profit and loss is distributed in capita
ratio. Calculate profit-sharing ratio.
(Ans. 10 : 6:5)​

Answer 1

Step-by-step explanation:

$When the value of the goodwill of the firm is not specifically given, the value of goodwill has to be inferred as follows:</p><p></p><p>Goodwill = (Incoming partner's capital * Reciprocal of share of incoming partner) - Total capital after taking into consideration the capital brought in by incoming partner.</p><p></p><p>Goodwill = Rs. 12000 * (4/1) - Rs. (10000 + 20000 + 12000)</p><p></p><p>Goodwill = Rs. 48000 - Rs 42000</p><p></p><p>Goodwill = Rs. 6000</p><p></p><p>$

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