Question

ram mohan distribute profit and loss in the ratio of 2 : 1 Ram Mohan and Sohan decided to share profit and loss in the ratio 3:1:1 respectively after adMission of Sohan Sohan gave rupees 3600 for goodwill state the total Goodwill of the firm and in which ratio the old partners have left their rights and also pass entry to record goodwill​

Answer 1

Answer:

sacrifice ratio old ratio- new ratio

Ram = 2/3-3/5 =1/15 (s)

Mohan= 1/3-1/5=2/15 (s)

sacrifice ratio == 1:2

goodwill of firm == 3600×5==18000

journal entry

sohan 's capital a/c. dr. 3600

To Ram's capital a/c. 1200

To Mohan's capital a/,c. 2400