Question

Vinay and Naman are partners sharing profits in the ratio of 4:1. Their capitals were ` 90,000 and ` 70, 000

respectively. They admitted Prateek for 1

3

share in the profits. Prateek brought proportionate amount of capital.

Calculate Prateek’s capital.​

Answer 1

Answer:

Prateek's share=1/3, Prateek's Capital = Rs. 1,00,000. <br> A. Bassed on Prateek's Capital, Total Capital of the firm will be <br>

<br> B. Total existing capital of Vinay, Naman and Prateek <br> = Rs. 90,000 + Rs. 70,000 + Rs. 1,00,000=Rs.2,60,000. <br> C. Value of Firm's Goodwill (A-B) = Rs.3,00,000-Rs.2,60,000=Rs.40,000.