Question

1th
1
Aditya and Shiv were partners in a firm with capitals of 3,00,000 and
22,00,000, respectively. Naina was admitted as a new partner for
4
share in the profits of the firm. Naina brought 1,20,000 for her share of
goodwill premium and 2,40,000 for her capital. The amount of goodwill
premium credited to Aditya will be:
(A) 40,000
(B) 30,000
(C) 72,000
(D) $ 60,000
​

Answer 1

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Asked on December 26, 2019 by

Chandrakant Amarwanshi

Atul and Neera were partners in a firm sharing profits in the ratio of 3:2.They admitted Mitali as a new partner.Goodwill of the firm was valued at Rs.2,00,000.Mitali brings here share of goodwill premium of Rs.20,000 in cash ,which is entirely credited to Atul's Capital Account.Calculate the new profits sharing ratio.

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ANSWER

Revalued Goodwill of the firm on Mitali's admission = Rs. 2,00,000

Premium for goodwill brought in cash by Mitali = Rs. 20,000

So, Mitali's share in future profit of the firm = Rs. 20,000/Rs. 2,00,000 = 1/10

Atul's account has only been credited by the premium brought in by Mitali

So, Atul's Sacrificing Share = Profit Share of Mitali = 1/10

New Profit share of Atul = Old profit share - Sacrificing share

New profit share of Atul = 3/5 -1/10 = 5/10

Therefore,

New Profit Sharing Ratio = 5/10:4/10:1/10 = 5:4:1.