Question

Amar and Akbar are equal partners in a firm. They admitted Anthony as a new partner and the new profit sharing ratio is 4:3:2. Anthony could not bring this share of goodwill Rs 45,000 in cash. It is decided to do adjustment for goodwill without opening goodwill account. Pass the necessary journal entry for the treatment of goodwill?

Answer 1

Given : Amar and Akbar are equal partners in a firm. They admitted Anthony as a new partner and the new profit sharing ratio is 4:3:2.

Anthony could not bring this share of goodwill Rs 45,000 in cash. It is decided to do adjustment for goodwill without opening goodwill account.

Solution :  

Necessary  journal entry for the treatment of goodwill is in the attachment below :

Old ratio of old partners : Amar :  Akbar = 1 : 1

New profit sharing ratio :  

Amar :  Akbar : Anthony = 4 : 3: 2

Amar's new share = 4/9

Akbar's new share = 3/9

Anthony's new share = 2/9

Sacrificing ratio = old ratio - new ratio

Amar's sacrifice = ½ - 4/9 = (9 - 8)/18 = 1/18

Akbar's sacrifice = ½ - 3/9 = (9 - 6)/18 = 3/18

Sacrificing ratio between Amar and Akbar = 1/18 : 3/18 = 1 : 3

Hope this answer will help you….

 

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Rao and Swami are partners in a firm sharing profits and losses in 3:2 ratio. They admit Ravi as a new partner for 1/8 share in the profits. The new profit sharing ratio between Rao and Swami is 4:3. Calculate new profit sharing ratio and sacrificing ratio?

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Rajesh and Mukesh are equal partners in a firm. They admit Hari into partnership and the new profit sharing ratio between Rajesh, Mukesh and Hari is 4:3:2. On Hari’s admission goodwill of the firm is valued at Rs 36,000. Hari is unable to bring his share of goodwill premium in cash. Rajesh, Mukesh and Hari decided not to show goodwill in their balance sheet. Record necessary journal entries for the treatment of goodwill on Hari’s admission.

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Answer 2

Answer:

Amar and Akbar are equal partners in a firm. They admitted Anthony as a new partner and the new profit sharing ratio is 4:3:2. Anthony could not bring this share of goodwill Rs 45,000 in cash. It is decided to do adjustment for goodwill without opening goodwill account. Pass the necessary journal entry for the treatment of goodwill?Friends…!

What should be the value of a, if the value of 2x2+x-a equals to 5 and x=0?

2 × 2 + x - a = 5

Substituting the value of x in the equation

2 × 2 + 0 - a = 5

4 + 0 - a = 5

4 - a = 5

4 - 5 = a

—1 = a

Thus a = —1

Answer : The value of a is —1