Gold and Silver are partners sharing profits and losses in the ratio of 2 : 5. They admit copper on the condition that he will bring ₹ 14,000 as his share of goodwill to be distributed between Gold and Silver. Copper’s share in the future profits or losses will be 1/4th. What will be the new profit sharing ratio and what amount of goodwill brought in by Copper will be received by Gold and Silver?
Gold and Silver are partners sharing profits and losses in the ratio of 2 : 5. They admit copper on the condition that he will bring ₹ 14,000 as his share of goodwill to be distributed between Gold and Silver. Copper’s share in the future profits or losses will be 1/4th. What will be the new profit sharing ratio and what amount of goodwill brought in by Copper will be received by Gold and Silver?
Anurag Pathak Changed status to publish May 17, 2023
