X and Y are partners in a firm with capital of Rs 1,80,000 and RS. 2,00,000 . Z was admitted for 1/3rd share in profits and brings Rs. 3,40,000 as capital, what will be the amount of goodwill:
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Answer: The amount of bonus is 100,000
Explanation:
Capital of X : 180,000
Capital of Y : 200,000
Capital of Z : 340,000
Total capital: 720,000
1/3 share: 720,000 x 1/3 = 240,000
Bonus = Capital - ratio of share
Bonus = 340,000- 240,000
Bonus = 100,000
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