Amit and Vidya are partners in a firm. They admit Sanjana as a partner with 1/4th share in the profits of the firm. Sanjana brings ₹ 2,00,000 as her share of capital. The value of the total assets of the firm is ₹ 5,40,000 and outside liabilities are valued at ₹ 1,00,000 on that date. Sanjana’s share of goodwill is
Amit and Vidya are partners in a firm. They admit Sanjana as a partner with 1/4th share in the profits of the firm. Sanjana brings ₹ 2,00,000 as her share of capital. The value of the total assets of the firm is ₹ 5,40,000 and outside liabilities are valued at ₹ 1,00,000 on that date. Sanjana’s share of goodwill is
a) ₹ 60,000
b) ₹ 50,000
c) ₹ 30,000
d) ₹ 40,000
Anurag Pathak Changed status to publish June 8, 2023
Ans – d)
Working Notes:-
Net worth of the firm (with goodwill) = New partner’s capital × reciprocal of his share
₹ 2,00,000 × 4 = ₹ 8,00,000
Net worth of the firm (without goodwill) = Total assets – Outside Liabilities + New partner’s capital
(₹ 5,40,000 – ₹ 1,00,000) + ₹ 2,00,000
₹ 6,40,000
Goodwill of the firm = 8,00,000 – 6,40,000 = ₹ 1,60,000
Sanjana’s Premium for goodwill = 1,60,000 × 1/4 = ₹ 40,000
Anurag Pathak Changed status to publish June 8, 2023
