Question

Ram, Mohan and Sohan were partners in a firm sharing profits in the ratio of 2: 21. On
death the goodwill of the firm was valued at 1,50,000.
Calculate the Gaining Ratio and pass necessary Journal entry on Mohan's death for the
treatment of goodwill without opening Goodwill Account.
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Answer 1

Answer:

hope this will help you

Explanation:

Old ratio (Ram, Mohan and Sohan) = 1/5: 1/3: 7/15 or 3 : 5 : 7

Sohan's profit share = 7/15

Ram and Mohan decided to take his share in the ratio of 3:2

Share of Sohan taken by Ram = 7/15 X 3/5 = 21/75

Share of Sohan taken by Mohan = 7/15 X 2/5 = 14/75

New profit share = Old profit share +Share taken from Sohan

Ram's new share = 3/15 + 21/75 = 15/75 + 21/75 = 36/75

Mohan's new share = 5/15 + 14/75 = 25/75 + 14/75 = 39/75

New profit ratio (Ram and Mohan) = 36 : 39 or 12 : 13

Answer 2

Answer:

I cannot know this and sorry