Ashok and Ravi were partners in a firm sharing profits in the ratio of 7:3. They admitted
chander as a new partner. The profit sharing ratio between Ashok, Ravi and Chander will be
2:2:1. Chander brought Rs. 24000 for his share of goodwill. Pass the necessary journal entries for
the treatment of goodwill.
Answers
Answered by
3
Answer:
Gaining or sacrificing ratio--
Aashok=7/10-2/5
=3/10{sacrificing}
Ravi= 3/10-2/5
=-1/10{gaining}
It means Ravi gaining rhenge will be paiyed to aashok gaining share amount from goodwill
Total goodwill of the firm--
=24000×5/1
=120000
Ravi give=120000×1/10
=12000
Premium for goodwill Dr. 24000
Ravi capital a/c. Dr. 12000
To Aashok s capital a/c
Answered by
1
Answer:
Gaining or sacrificing ratio--
Aashok=7/10-2/5
=3/10{sacrificing}
Ravi= 3/10-2/5
=-1/10{gaining}
It means Ravi gaining rhenge will be paiyed to aashok gaining share amount from goodwill
Total goodwill of the firm--
=24000×5/1
=120000
Ravi give=120000×1/10
=12000
Premium for goodwill Dr. 24000
Ravi capital a/c. Dr. 12000
To Aashok s capital a/c
Explanation:
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