Akhil, Vipul and Ritvik were partners sharing profits in the ratio of 5 : 3 : 2. Akhil retired from the firm. On the date of retirement, Goodwill of the firm was valued at ₹ 5,00,000. Amount that will be debited to the capital accounts of Vipul and Ritvik will be
Akhil, Vipul and Ritvik were partners sharing profits in the ratio of 5 : 3 : 2. Akhil retired from the firm. On the date of retirement, Goodwill of the firm was valued at ₹ 5,00,000. Amount that will be debited to the capital accounts of Vipul and Ritvik will be
a) Vipul – ₹ 1,00,00 and Ritvik – ₹ 1,50,000
b) Vipul – ₹ 1,50,000 and Ritvik – ₹ 1,00,000
c) Vipul – ₹ 1,25,000 and Ritvik – ₹ 1,25,000
d) Vipul – ₹ 90,000 and Ritvik – ₹ 1,60,000
Anurag Pathak Changed status to publish July 2, 2023
Ans – b)
Solution:-
Old Profit sharing ratio of Akhil, Vipul, and Ritvik is 5 : 3 : 2
Akhil Retired
the gaining ratio of Vipul and Ritvik is 3 : 2
Goodwill of the firm = ₹ 5,00,000
Akhil share in goodwill = 5,00,000 × 5/10 = ₹ 2,50,000
Vipul will compensate = 2,50,000 × 3/5 = ₹ 1,50,000
Ritvik will compensate = 2,50,000 × 2/5 = ₹ 1,00,000
Anurag Pathak Changed status to publish July 2, 2023
