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प्रश्न
Amar and Samar were partners in a firm sharing profits and losses in 3:1 ratio. They admitted Kanwar for 1/4 share of profits. Kanwar could not bring his share of goodwill premium in cash. The Goodwill of the firm was valued at Rs. 80,000 on Kanwar’s admission. Record necessary journal entry for goodwill on Kanwar’s admission.
उत्तर
Old Ratio = Amar : Samar
= 3 : 1
Kanwar admitted for 1/4 share of profit
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Journal Entries |
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Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
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Kanwar's Capital A/c |
Dr. |
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20,000 |
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To Amar's Capital A/c |
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15,000 |
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To Samar's Capital A/c |
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5,000 |
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(Kanwar's share of goodwill charged from his capital account by Amar and Kanwar in sacrificing ratio) |
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New Firm’s Goodwill = Rs 80,000
Kanwar’s Share of Goodwill = 80,000 × (1/4) = 20,000
Kanwar’s Goodwill will be taken by Amar and Samar in their sacrificing ratio here. Sacrificing Ratio will be equal to old ratio because new and sacrificing ratio is not given, if sacrificing and new ratio is not given it is assumed that old partners sacrificed in their old ratio.
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संबंधित प्रश्न
Arti and Bharti are partners in a firm sharing profits in 3:2 ratio, They admitted Sarthi for 1/4 share in the profits of the firm. Sarthi brings Rs. 50,000 for his capital and Rs. 10,000 for his 1/4 share of goodwill. Goodwill already appears in the books of Arti and Bharti at Rs. 5,000. the new profit sharing ratio between Arti, Bharti and Sarthi will be 2:1:1. Record the necessary journal entries in the books of the new firm?
Mohan Lal and Sohan Lal were partners in a firm sharing profits and losses in 3:2 ratio. They admitted Ram Lal for 1/4 share on 1.1.2013. It was agreed that goodwill of the firm will be valued at 3 years purchase of the average profits of last 4 years which were Rs. 50,000 for 2013, Rs. 60,000 for 2014, Rs. 90,000 for 2015 and Rs. 70,000 for 2016. Ram Lal did not bring his share of goodwill premium in cash. Record the necessary journal entries in the books of the firm on Ram Lal’s admission when:
a) Goodwill already appears in the books at Rs. 2,02,500.
b) Goodwill appears in the books at Rs. 2,500.
c) Goodwill appears in the books at Rs. 2,05,000.
The following was the Balance Sheet of Arun, Bablu and Chetan sharing profits and losses in the ratio of `6/14 : 5/14 : 3/14` respectively.
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Liabilites |
Amount (Rs) |
Assets |
Amount (Rs) |
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|
Creditors |
|
9,000 |
Land and Buildings |
24,000 |
|
|
Bills Payable |
|
3,000 |
Furniture |
3,500 |
|
|
Capital Accounts |
|
|
Stock |
14,000 |
|
|
|
Arun |
19,000 |
|
Debtors |
12,600 |
|
|
Bablu |
16,000 |
|
Cash |
900 |
|
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Chetan |
8,000 |
43,000 |
|
|
|
|
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55,000 |
|
55,000 |
|
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