Sun and Star were partners in a firm sharing profits in the ratio of 2 : 1. Moon was admitted as a new partner in the firm. New Profit sharing ratio was 3 : 3 : 2. Moon brought the following assets towards his share of goodwill and his capital:
Sun and Star were partners in a firm sharing profits in the ratio of 2 : 1. Moon was admitted as a new partner in the firm. New Profit sharing ratio was 3 : 3 : 2. Moon brought the following assets towards his share of goodwill and his capital:
| Machinery | ₹ 2,00,000 |
| Furniture | ₹ 1,20,000 |
| Stock | ₹ 80,000 |
| Cash | ₹ 50,000 |
If his capital is considered as ₹ 3,80,000 the goodwill of the firm will be
a) ₹ 70,000
b) ₹ 2,80,000
c) ₹ 4,50,000
d) ₹ 1,40,000
Anurag Pathak Changed status to publish June 1, 2023
Ans – a)
Solution:-
Machinery A/c Dr. 2,00,000
Furntirue A/c Dr. 1,20,000
Stock A/c Dr. 80,000
Cash Dr. 50,000
To Moon’s Capital A/c 3,80,000
To Premium for Goodwill A/c (B/f) 70,000
Anurag Pathak Changed status to publish June 1, 2023
