A and N were partners in a firm sharing profits in the ratio 3:2. they admitted m as new partner. goodwill of the firm is ₹2,00,000. M brings 20,000 in cash, which is entirely credited to A. New profit sharing ratio is?
5:4:3
5:4:2
5:4:4
5:4:1
Answers
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1
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.
Explanation:
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Answered by
2
Explanation:
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.
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