Question

Neha and Ankush sharing profits in the ratio
of 2:1 admit laksh for 1/5th share in profits on 1st April, 2018. laksh pays 40,000 for capital and 6000 out of his share of a 12000 over goodwill. The new profit - sharing ratio between neha, ankush and laksh will be 5:3:2
Give Journal entries
in connection with laksh admission when 1: capitals are fluctuating 2: capitals are fixed​

Answer 1

Answer:

Neha and Ankush sharing profits in the ratio

of 2:1 admit laksh for 1/5th share in profits on 1st April, 2018. laksh pays 40,000 for capital and 6000 out of his share of a 12000 over goodwill. The new profit - sharing ratio between neha, ankush and laksh will be 5:3:2

Give Journal entries

in connection with laksh admission when 1: capitals are fluctuating 2: capitals are fixed

Answer 2

Answer:

please give me thanks and mark as brain list

Explanation:

Answer

Correct option is

A

Rs.40,000 and Rs.20,000 respectively

Capital brought in by Z= 20000

Total Capital of the firm based on Z's share= 20000* 4/1

= 80000

Hence, Capital remaining after Z= 80000-20000 = 60000

X's adjusted Capital= 2/3 * 60000= 40000

Y's adjusted Capital= 1/3 * 60000= 20000