Question

Rohit, Udit and Mohit were partners in a firm, sharing profits in the ratio of 3 : 2 : 1. Mohit retired. The balance in his capital account after making the necessary adjustments on account of reserves and revaluation of assets and liabilities was ₹ 1,80,000. Rohit and Udit agreed to pay him ₹ 2,00,000 in full settlement of his claim. Mohit's share of goodwill in the firm was ______.

विकल्प

• ₹ 1,80,000

• ₹ 2,00,000

• ₹ 40,000

• ₹ 20,000

Answer 1

Rohit, Udit and Mohit were partners in a firm, sharing profits in the ratio of 3 : 2 : 1. Mohit retired. The balance in his capital account after making the necessary adjustments on account of reserves and revaluation of assets and liabilities was ₹ 1,80,000. Rohit and Udit agreed to pay him ₹ 2,00,000 in full settlement of his claim. Mohit's share of goodwill in the firm was ₹ 20,000.

Explanation:

Amount due to Mohit = ₹ 1,80,000

Amount actually paid = ₹ 2,00,000

Mohit's share in the firm's goodwill = ₹ 2,00,000 − ₹ 1,80,000

= ₹ 20,000