Accountancy, asked by roshni46631, 2 months ago

Vikrant, Gaurav and Nitin share profits equally. They decide that in future Nitin will get 1/5th sharein profits. On the day of change, firm's goodwill is valued 30,000. What will be the treatment ofgoodwill ?​

Answers

Answered by gamerbadal8
0

Explanation:

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Answered by Anonymous
1

Given: Vikrant, Gaurav, and Nitin share profits equally. They decide that in the future Nitin will get 1/5th share in profits. On the day of change, the firm's goodwill is valued at 30,000.

To find: treatment of the goodwill

Solution:

Nitin will get 1/5th sharein profits = 1/5 into 30,000

= 6000

Remaining share= 4/5

Vikrant's share= 4/5 into 1/2 into 30,000= 12,000

Gaurav's share= 4/5 into 1/2 into 30,000= 12,000

Goodwill A/C Dr.  30,000

To Vikrant A/c        12,000

To Gaurav  A/C .      12,000

To Nitin A/C .          6,000

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