Question

16. Sulabh and Saurabh are partners in the ratio of 3: 2. They admit Subhash in the firm for
1/6th share in the profit
. Subhash brings * 5,400 for goodwill in cash. What joumai
entries will be made in the following cases:
(i) If he gets 2/3rd of his share from Sulabh and 1/3 rd of his share from Saurabh
(ii) If he gets his share from Sulabh and Saurabh in the ratio of 5 : 4.
[Ans. Case- (i) * 3,600, * 1,800; Case (ii) * 3,000, * 2,400)
​

Answer 1

Answer:

$\huge\color{D21F3C}\mathbb{ANSWER}$

Explanation:

Journal entry in case (i)

Bank A/c Dr. 5400

To Subhash's Capital A/c 5400

(Being amount of goodwill brought by Subhash)

Subhash's Capital A/c Dr. 5400

To Sulabh Capital A/c 3600

To Saurabh's Capital A/c 1800

(Being amount distributed between partner's in sacrificing ratio i.e 2:1)

Working note- sacrificing ratio = Sulabh:Saurabh = 2:1

Amount to be distributed in scarifying ratio= Sulabh =5400×2/3=3600

= Saurabh = 5400×1/3=1800

Journal entry in Case (ii)

BANK A\C Dr. 5400

To Subhash's Capital A/c 5400

(Being amount of goodwill brought by Subhash)

Subhash's Capital A/c Dr. 5400

To Sulabh Capital A/c 3000

To Saurabh's Capital A/c 2400

(Being amount distributed between partner's in sacrificing ratio i.e 2:1)

Working note- sacrificing ratio = Sulabh:Saurabh = 5:4

Amount to be distributed in scarifying ratio= Sulabh =5400×5/9=3000

= Saurabh = 5400×4/9=2400

HOPE IT WILL HELP YOU PLZ MRK AS BRAINLIST

DON'T FORGET TO FØLLØW ME

HV A GOOD DAY