Anita and Babita were partners sharing profits and losses in the ratio of 3 : 1. Savita was admitted for 1/4th share in the profits. Savita was unable to bring her share of goodwill premium in cash. The Journal entry recorded for goodwill premium is given below:
Anita and Babita were partners sharing profits and losses in the ratio of 3 : 1. Savita was admitted for 1/4th share in the profits. Savita was unable to bring her share of goodwill premium in cash. The Journal entry recorded for goodwill premium is given below:
| Date | Particulars | L.F. | Dr. (₹) | Cr. (₹) |
| Savita’s Current A/c Dr. 24,000 To Anita’s Capital A/c 8,000 To Babita’s Capital A/c 16,000 (Adjustment of goodwill premium on Savita’s Admission) |
24,000 | 8,000 16,000 |
The new profit-sharing ratio of Anita, Babita, and Savita will be
a)Â 41 : 7 : 12
b) 13 : 12 : 10
c) 3 : 1 : 1
d) 5 : 3 : 2
Anurag Pathak Changed status to publish June 1, 2023
Ans – a)
Solution:-
the sacrificing ratio of Anita and babita as per question
8,000 : 16,000
1 : 2
Thus Savita gets his share 1/5th from Anita and babita in 1 : 2
Savita gets from Anita 1/5 × 1/3 = 1/15
Savita gets from Babita 1/5 × 2/3 = 2/15
New share of Anita = 3/4 – 1/15 = 45 – 4/60 = 41/60
New share of Babita = 1/4 – 2/15 = 15 – 8/60 = 7/60
New profit sharing ratio after making base equal
41/60 : 7/60 : 1/5 × 12/12
41 : 7 : 12
Anurag Pathak Changed status to publish June 1, 2023
