Question

A and B are partners sharing profits and losses in 3 : 2. They admit C into partnership for 330th share in the profits. A surrenders 13rd of his share and B surrenders 14th of his share in favour of C. Goodwill of the firm is valued at ₹3,00,000 but C is unable to bring his share of goodwill in cash. Credit will be given to :​

Answer 1

Answer:

question is understable so we can answer every thing we can : 1. new profit sharing ratio , 2. goodwill distribution between partners

Explanation:

1. new psr

A = 3/5 - 1/3 * 3/5

= 9/15 - 3/15

= 6/15 = 2/5

2/5 * 2/2

= 4/10

B = 2/5 - 1/4* 2/5

= 2/5 - 2/20

= 6/20

= 3/10

C = 1/3*3/5 + 1/4*2/5

= 3/15. + 2/20

= 12 + 6/ 60 = 18/60 = 3/10

C share = 3/10

new profit sharing ratio = 4:3:3

2. Goodwill distribution between old partner. journal.

c has to give for goodwill

= 300000 * 3/10 =90000

c's current a\c dr 90000

To A's capital a\c 54000. [ 90000 * 3/5 ]

To B'capital a\c. 36000. [90000* 2/5]