Question

Anita and Babita were partners sharing profits and losses in the ratio of
3: 1. Savita was admitted for 1/5th share in the profits. Savita was unable
to bring her share of goodwill premium in cash. The journal entry
recorded for goodwill premium is given below :
Date
Particular
LF
Debit Credit
Amt. (5) Amt. (5)
Savita's Current A/c. Dr.
24,000
To Anita's Capital A/c.
8,000
To Babita's Capital A/c.
16,000
(Being adjustment of goodwill
premium on Savita's Admission)
The new profit sharing ratio of Anita, Babita and Savita, will be
(a) 41:7:12
(b) 13:12 : 10
(C 3:1:1
(d) 5:3:2​

Answer 1

Answer:

the correct answer is 41:7:12

Explanation:

their sacrificing ratio will be (8000:16000) that is 1:2

now to calculate their sacrificing share (to know new profit sharing ratio

new = (old - sacrificing) share

anita- 1/3 * 1/5 = 1/15

babita-2/3 *1/5= 2 *15

now n.p.s.r

anita = 3/4-1/15= 41/60

Babita= 1/4-2/15 = 7/60

savita = 1/5 = 12/60