Question

Atul and Neera were partners in a firm sharing profits and losses in the ratio of 3:2 . They admitted Mitali as a new partner. Goodwill of the firm was valued at rs.2,00,000. Mitali brings her share of goodwill premium of rs.20,000 incash , which is entirely credited to Atul's capital account .Calculate new profit sharing ratio.​

Answer 1

Mittali's goodwill firm admission is = 200000

Premium for firm  = 20000

Mitali's share in future = 20000 / 200000

                                    = 1 / 10

Atul account is been credited

Atul share = profit of mitali share

                  = 1/10

New profit share = Old share - sacrifising share

                            = 3/5 - 1/10

                            = 5 / 10