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प्रश्न
Amar and Akbar are equal partners in a firm. They admitted Anthony as a new partner and the new profit sharing ratio is 4:3:2. Anthony could not bring this share of goodwill Rs 45,000 in cash. It is decided to do adjustment for goodwill without opening goodwill account. Pass the necessary journal entry for the treatment of goodwill?
उत्तर
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Books of Amar, Akbar and Anthony Journal |
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Date |
Particulars |
L.F. |
Amount Rs |
Amount Rs |
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Anthony’s Capital A/c |
Dr. |
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45,000 |
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To Amar’s Capital A/c |
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11,250 |
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To Akbar’s Capital A/c |
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33,750 |
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(Adjustment of Anthony’s share of goodwill between Amar and Akbar in sacrificing ratio) |
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Working Notes:
1) Sacrificing Ratio = Old Ratio − New Ratio
Amar's sacrificing Ratio = `1/2 - 4/9 = [ 9 - 8]/18 = 1/18`
Akbar's sacrificing Ratio = `1/2 - 3/9 = [ 9 - 6]/18 = 3/18`
Sacrificing Ratio between Amar and Akbar = 1:3.
APPEARS IN
संबंधित प्रश्न
Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5:3. They admitted Ghosh as a new partner for 1/5 share of profits. Ghosh is to bring in Rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium. Give the necessary journal entries:
a) When the amount of goodwill is retained in the business.
b) When the amount of goodwill is fully withdrawn.
c) When 50% of the amount of goodwill is withdrawn.
d) When goodwill is paid privately.
Write the Word/Term/Phrase which can substitute of the following statement:
Money value of business reputation earned by the firm over a number of years.
Retiring Partner’s share of goodwill is ________ to the remaining partner’s capital account.
Why is retiring partner’s capital account credited with goodwill?
When is brought in cash by the new partner, then the method is known as ____________.
When the incoming partner pays his share of goodwill privately to the sacrificing partner outside the business Which account should be debited in the books of account.
