Question

150 / NCERT Accountancy-XII
23. Ram and Krishna have been carrying on business in partnersh
capitals of
30,000 and
n business in partnership with
10,000 respectively and sharing profits in the same
and sharing profits in the same proportions.
The net profit for the years 2016, 2017 and 2018 were ? 25,000,
17 and 2018 were 25,000, 30,000 and
*35,000 respectively. It is agreed that from 1st January, 2019 Krishna
shares in the future profits and for that purpose he should pay a premium
be valued on the basis of two year's purchase calculated on the average of the p
year's profits. The capital accounts of the partners are to be adjusted in accordance with
the new profit sharing arrangements. Ram is allowed to withdraw any additional
standing to his capital account. Assuming that Krishna has brought in the necessary sum.
Show the capital accounts of the partners.
[ Ans. Balance of Capital A/cs : Ram 24,000 and Krishna 16,000,
Premium of Goodwill 9,000 ]
Objective Type Questions:
1. Select the correct answer of the following-
le Danemieina moobinie​

Answer 1

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