Question

A and B were partner
s with capitals of Rs. 6, 00,000 and Rs. 4, 00,000 respectively. C was

admitted for 1/5th share in profits. The journal entry recorded for premium for goodwill brought in by C

is given below:

Date Particulars Dr. Cr:

Premium for Goodwill A/c

To A's Capital A/C

To B's Capital A/C

(Adjustment for premium for goodwill brought in by C)

2,00,000

1,20,000

80,000

The new profit sharing ratio will be:

(A) 21:19:10 (B) 19:21:10 (C) 12:8:5 (D) 13:7:5 1

Q.3 A, B and C are partners in a firm sharing profit/loss in the ratio of 2:2:1. On
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Answer 1

Answer:

b) 19:21:10

Explanation:

Premium for goodwill is transfered to scarifing partners in scarificing ratio.

therefore in ths qustion scarifing ratio will be  =120000/80000=3/2 or 3:2

C got 1/5 th share it means that he got 3/5 from A'share and 2/5 from B's share.

A and B are equal partners so old ratio =1:1

old-scarifice=new ratio

A'new ratio=1/2-3/5= 25-6/50 =19/50

B's ''      ''    =1/2-2/5= 25-4/50 =21/50

C's ''       ''   =1/5 * 10/10=10/50

so, New ratio=19:21:10