Question

Anil and alok is a partner sharing profit and losses in the ratio of 2:1 . They agree to admit anil , there manager into partnership who is get 1/3rd share in the business . Anil bring his 10000 for his capital and 3000 for 1/3rd share of goodwill. Ajay alok and Anil ready to share future profit equally

Answer 1

Answer:

calculation of sacrifice ratio

old ratio - new ratio

Ajay = 2/3-1/3= 1/3(sacrifice)

Alok = 1/3-1/3=0

Anil = 1/3 (gain)

only Ajay sacrifice so goodwill brought by Anil

credited to Ajay account

Cash account. Dr 13000

To Anil's capital account 10000

To premium for goodwill 3000

Premium for goodwill Dr. 3000

To Ajay's capital account. 3000