Q. 8. Saloni and Shrishti were partners in a firm sharing profits in the ratio of 7:3. Their capitals were
Rs. 2,00,000 and Rs. 1,50,000 respectively. They admitted Aditi on 1st April, 2013 as a new partner for
1/6th share in future profits. Aditi brought Rs. 1,00,000 as her capital. Calculate value of goodwill of
the firm and record necessary Journal entries for the above transaction on Aditi's admission. {Delhi
2014)
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step by step explaintion
on the basis of aditi's share total capital of firm
(1,00,000×6/1) = 6,00,000
less: capital of saloni 2,00,000
capital of shrishti 1,50,000
capital of aditi 1,00,000
= 4,50,000
= (6,00,000-4,50,000) = 1,50,000
value of goodwill of the firm = 1,50,00
aditi's share of goodwill = 1,50,000× 1/6
= 25,000
Bank a/c Dr 1,00,000
To aditi capital a/c 1,00,000
aditi's capital a/c ...Dr 25,000
To saloni'capital a/c 17,500
To shrishti's capital a/c 7,500
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