Question

A and B are partners sharing profits and losses in the ratio of 2:5. They admit C on the condition that
he will bring 14,000 as his share of goodwill to be distributed between A and B. C's share in the future
profits or losses will be 1/4th. What will be the new profit-sharing ratio and what amount of goodwill
brought in by C will be received by A and B?​

Answer 1

Answer:

new profit sharing ratio 13:1:7

goodwill for A = 4000 ; B =10000

Answer 2

Answer:

new profit sharing ratio =13:17

good will =A 4000. B1000

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