Question

(a) * 8,0
11. X and Y are partners in a firm. They admit Z for ath share in firm's profits. Z brings
1,00,000 for his share of capital. The value of total assets of the firm is 2,70,000
and outside liabilities are assessed at 50,000 on that date. Z's share in hidden
goodwill be
(a) 80,000 (b) * 60,000 (c) * 1,00,000 (d) 20,000
Ans. (d)
4
X
4,00,000
1
1,00,000
(Hint - Hidden goodwill is
1
- ( 2,70,000 - 50,000 + 1,00,000)
= 4,00,000 - 3,20,000 = 80,000
4
Z's share is
= 20,000​

Answer 1

Answer:

11. X and Y are partners in a firm. They admit Z for ath share in firm's profits. Z brings

1,00,000 for his share of capital. The value of total assets of the firm is 2,70,000

and outside liabilities are assessed at 50,000 on that date. Z's share in hidden

goodwill be

(a) 80,000 (b) * 60,000 (c) * 1,00,000 (d) 20,000

Ans. (d)

4

X

4,00,000

1

1,00,000

(Hint - Hidden goodwill is

1

- ( 2,70,000 - 50,000 + 1,00,000)

= 4,00,000 - 3,20,000 = 80,000

4

Z's share is

= 20,000