Manav and Nath were partners sharing profits and losses in the ratio of 5 : 3. Narayan was admitted as a partner for 1/6th share in the profits. Narayan was unable to bring his share of goodwill premium in cash. The Journal entry recorded for goodwill premium is given below:
Manav and Nath were partners sharing profits and losses in the ratio of 5 : 3. Narayan was admitted as a partner for 1/6th share in the profits. Narayan was unable to bring his share of goodwill premium in cash. The Journal entry recorded for goodwill premium is given below:
| Date |  Particulars | L.F | Dr. (₹) | Cr. (₹) |
| Narayan’s Capital A/c Dr. To Manav’s Capital A/c To Nath’s Capital A/c |
50,000 | 15,000 35,000 |
The sacrificing ratio of Manav and Nath will be
a) 4 : 7
b) 3 : 7
c) 7 : 3
d) 5 : 3
Anurag Pathak Changed status to publish June 1, 2023
Ans – b)
Explanation:-
sacrificing ratio of Manav and Nath is
15,000 : 35,000
3 : 7
Anurag Pathak Changed status to publish June 1, 2023
