Question

(IVCENT)
Disha and Divya are partners in a firm sharing profits in the ratio of 3 : 2 respectively. The fixed capital
of Disha is 4,80,000 and of Divya is 3,00,000. On 1st April, 2019 they admitted Hina as a new partner
for 1/5th share in future profits. Hina brought * 3,00,000 as her capital. Calculate value of goodwill of
the firm and record necessary Journal entries on Hina's admission.​

Answer 1

Answer:

420000

Explanation:

1/5 capital is 300000

so total capital is 300000 × 5 = 15 lakhs

joint capital all partners are

480000+ 300000+300000 = 1080000

Value of goodwill 15lakh - 1080000 = 420000