Riya, sherya and Nitya are partners sharing profits in the ratio of 1:2:3.Nitya retires and her
capital, after making all adjustments for reserves and profits on revaluation stands at Rs 4,40,000.Riya
and shreya agreed to pay her Rs 5,00,000 in full settlement of her claim. Record necessary journal
entries for treatment of goodwill if new profit sharing ratio is decided at 1:3.
Answers
Answered by
1
Answer:
Working Notes:
Manisha’s share in goodwill = 1,80,000 X 2/6 = Rs. 60,000
Gaining ratio = New ratio – Old ratio
Aparna = 3/5 – 3/6 = 18 – 15/30 = 3/30
Sonia = 2/5 – 1/6 = 12 – 5/30 = 7/30
Or 3: 7
Aparna’s share of goodwill = 60,000 X 3/10 = Rs. 18,000
Sonia’s share of goodwill = 60,000 X 7/10 = Rs. 42,000
Report Issue
More questions for you
A, B and C take a Joint Policy. After five
Similar questions