16. Mahesh and Ramesh are partners in a firm sharing profits in the ratio 2:1 Their combined capital on
1" April 2019 was 3,84,000. Interest on capital is agreed @ 5% p.a. The profits of the year prior to
interest on capital but after charging Ramesh's salary amounted * 45,000. Fill in the missing figures in
the following accounts as on 31st March 2020.
Profit and Loss Appropriation A/C
Answers
Answer:
Calculation of Goodwill brought in by Aditya
Average Profits = (Normal profits from 31st March, 2017 to 31st March, 2018)/2
= ₹ (2,00,000 + 6,00,000)/2= ₹ 4,00,000
Goodwill = Average Profits × No. of years of Purchase
= ₹ (4,00,000 × 2.5) = ₹ 10,00,000
Goodwill brought in by Aditya = ₹ (10,00,000 × 1/5) = ₹ 2,00,000
Explanation:
Admission of a new accomplice means admission of a new member as a owner of firm, resulting in growth in
wide variety of the partners in the firm.
in keeping with phase 31 of the Indian Partnership Act, 1932, a person may be admitted as a accomplice in the firm
with the consent of present companions. on the identical time he turns into answerable for all of the sports of the firm. The
man or woman so admitted as a partner shall not be chargeable for the past acts of the firm. After admission the brand new accomplice gets
the subsequent two rights –
(i) proper to percentage in the asset of the company, and
(ii) proper to proportion in destiny earnings of the firm.
To learn more about Goodwill visit
brainly.in/question/15401602
brainly.in/question/45651874
#SPJ1
