Accountancy, asked by hzusb2735, 7 months ago

Ashoo and Rahul are partners sharing profits in the ratio of 5:3. Gaurav was admitted for 1/5th share and was asked to contribute proportionate capital and Rs.4,000 for premium (goodwill). The capitals of Ashoo and Rahul after all adjustments relating to revaluation, goodwill etc. worked out to be Rs. 45,000 and Rs. 35,000 respectively. You are required to calculate New Profit Sharing Ratio and Capital to be brought in by Gaurav. (3+3)

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Answered by Sumitnegi58

4

Answer:

Ashoo and Rahul are partners sharing profits in the ratio of 5:3. Gaurav was admitted for 1/5th share and was asked to contribute proportionate capital and Rs.4,000 for premium (goodwill). The capitals of Ashoo and Rahul after all adjustments relating to revaluation, goodwill etc. worked out to be Rs. 45,000 and Rs. 35,000 respectively. You are required to calculate New Profit Sharing Ratio and Capital to be brought in by Gaurav. (3+3)

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