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Answer

A and B are partners, sharing profit and losses in the ratio of 3 : 2. Goodwill appears in their Balance Sheet at ₹ 24,000, When C is admitted into partnership for 1/5th share in profit. He pays ₹ 50,000 for capital and ₹ 8,000 as goodwill

Solution:-

Anurag Pathak
August 26, 2024

Ram and Rahim are partners in a firm sharing profits in the ratio of 3 : 2. On April 1, 2023 they admit Raj as a new partner for 3/13th share in the profits. The new ratio will be 5 : 5 : 3

Solution:-

Anurag Pathak
August 26, 2024

P and Q are partners sharing profits and losses as 2 : 3. R and S are admitted and profit sharing ratio becomes 3 : 4 : 3 : 2. Goodwill is valued at ₹ 3,00,000, R brings required goodwill and ₹ 2,00,000 cash for Capital

Solution:-

Anurag Pathak
August 23, 2024

A and B are partners sharing profits and losses as 2 : 1. On 1st April, 2021 they admit C as a partner for 1/4th share who pays ₹ 4,50,000 as goodwill privately. On 1st April, 2022, they take D as a partner for 3/5th share who brings ₹ 4,00,000 as goodwill

Solution:-

Anurag Pathak
August 23, 2024

A B and C are partners sharing profits and losses in the ratio of 3 : 2 : 1. They admit D for 1/4th share in the profits and he brought in ₹ 1,50,000 as his share of goodwill which was credited to the Capital Accounts of B and C respectively with ₹ 1,25,000 and ₹ 25,000

Solution:-

Anurag Pathak
August 23, 2024

X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership, Z paying a premium of ₹ 1,00,000 for 1/4th share of the profits while X and Y as between themselves sharing profits and losses equally. Give Journal entries

Solution:-

Anurag Pathak
August 23, 2024

Partners A, B and C share the profit of a business in the ratio of 3 : 2 : 1 respectively. For one-sixth share they admit D who brings in ₹ 2,00,000 including ₹ 60,000 for his share of goodwill

Solution:-

Anurag Pathak
August 23, 2024

A B and C are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They admitted D as a new partner, who brings ₹ 5,00,000 as capital and ₹ 2,10,000 as his share of goodwill in cash

Solution:-

Anurag Pathak
August 23, 2024

X and Y share profits and losses in the ratio of 3 : 2. They admit Z as a partner who pays ₹ 72,000 as premium for goodwill for 1/4th share in the future profits of the firm

Solution:-

Anurag Pathak
August 23, 2024

Anju and Manju are partners, sharing profits and losses in the proportion of 7 : 5. They agreed to admit Meenu, their manager, into partnership, who is to get one sixth share in the business

Solution:-

Anurag Pathak
August 23, 2024