Question

Partners A, B and C share the profits of a business in the ratio of 3 : 2 : 1 respectively. They admit D who brings in ₹60,000 for his share of goodwill. A, B, C and D decide to share the profits respectively in the ratio of 5 : 3 : 2 : 2. Credit will be given to :

A) A ₹6,000; B ₹6,000
B) A ₹30,000; B ₹18,000; C ₹12,000
C) A ₹30,000; B ₹20,000; C ₹10,000
D) A ₹30,000; B ₹30,000​

Answer 1

Answer:

Sharing of profit ( Old Ratio) = 15000 : 10000 : 5000

Sharing of profit ( New Ratio) = 12000 : 12000 : 6000

Difference - A Cr. 3000 ; B Dr. 2000 ; C Dr. 1000

Explanation:

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Answer 2

Given:

Partners A, B and C share the profits of a business in the ratio of 3: 2: 1 respectively. They admit D who brings in ₹60,000 for his share of goodwill. A, B, C and D decide to share the profits respectively in the ratio of 5 : 3: 2: 2.

To Find:

Credit will be given to :

A) A ₹6,000; B ₹6,000

B) A ₹30,000; B ₹18,000; C ₹12,000

C) A ₹30,000; B ₹20,000; C ₹10,000

D) A ₹30,000; B ₹30,000​

Solution:

The old ratio is equal to 3:2:1 and the new ratio is equal to 5:3:2:2, now computing the sacrificing ratio,

A=(3/6-5/12)

  =1/12

B=(2/6-3/12)

 =1/12

C=(1/6-2/12)

  =0

Since only A and B sacrificed equally their share after admission of D hence the amount of goodwill brought in by D shall be credited to A's and B's capital account equally

A=60000*1/2

  =30000

B=60000*1/2

  =30000

Hence, the correct option is (d).