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प्रश्न
X and Y are partners sharing profits in the ratio of 3 : 1. Z is admitted as a partner for which he pays ₹ 30,000 for goodwill in cash. X, Y and Z decide to share the future profits in equal proportion. You are required to pass a single Journal entry to give effect to the above arrangement.
उत्तर
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Journal |
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Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
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Cash A/c |
Dr. |
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30,000 |
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To Premium for Goodwill A/c |
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30,000 |
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(X brought his share of goodwill) |
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Premium for Goodwill A/c |
Dr. |
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30,000 |
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Y’s Capital A/c |
Dr. |
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7,500 |
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To X’s Capital A/c |
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37,500 |
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(Y and Z share of gain in goodwill transferred |
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Working Notes:
WN1 : Calculation of Sacrificing Ratio
Sacrificing Ratio = Old Ratio - New Ratio
X's = `3/4 - 1/3 = 5/12`
Y's = `1/4 - 1/3 = -1/12` (Gaining)
WN2 :
Goodwill of the firm on the basis of Z’s share
= 30,000 x `3/1` = Rs. 90,000.
Y's gain in goodwill = 90,000 x `1/12` = Rs. 7,500.
X will get as a goodwill = Z’s share of Goodwill + Y’s gain in Goodwill
= 30,000 + 7,500 = Rs 37,500
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संबंधित प्रश्न
What is sacrificing ratio? Why is it calculated?
On what occasions sacrificing ratio is used?
Sandeep and Navdeep are partners in a firm sharing profits in 5:3 ratio. They admit C into the firm and the new profit sharing ratio was agreed at 4:2:1. Calculate the sacrificing ratio?
Rao and Swami are partners in a firm sharing profits and losses in 3:2 ratio. They admit Ravi as a new partner for 1/8 share in the profits. The new profit sharing ratio between Rao and Swami is 4:3. Calculate new profit sharing ratio and sacrificing ratio?
A, B and C are in partnership sharing profits and losses in the ratio of 5 : 4 : 1 respectively. Two new partners D and E are admitted. The profits are now to be shared in the ratio of 3 : 4 : 2 : 2 : 1 respectively. D is to pay ₹ 90,000 for his share of Goodwill but E has insufficient cash to pay for Goodwill. Both the new partners introduced ₹ 1,20,000 each as their capital. You are required to pass necessary Journal entries.
A and B are sharing profits and losses equally. With effect from 1st April, 2019, they agree to share profits in the ratio of 4 : 3. Calculate individual partner's gain or sacrifice due to the change in ratio.
X, Y and Z are sharing profits and losses in the ratio of 5 : 3 : 2. With effect from 1st April, 2019, they decide to share profits and losses in the ratio of 5 : 2 : 3. Calculate each partner's gain or sacrifice due to the change in ratio.
Rakesh and Suresh are sharing profits in the ratio of 4 : 3. Zaheer joins and the new ratio among Rakesh, Suresh and Zaheer is 7 : 4 : 3. Find out the sacrificing ratio.
X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership. X gives 1/3rd of his share while Y gives 1/10th from his share to Z. Calculate new profit-sharing ratio and sacrificing ratio.
A, B and C are partners sharing profits in the ratio of 2 : 2 : 1. D is admitted as a new partner for 1/6th share. C will retain his original share. Calculate the new profit-sharing ratio and sacrificing ratio.
P and Q are partners sharing profits in the ratio of 3 : 2. They admit R into partnership who acquires 1/5th of his share from P and 4/25th share from Q. Calculate New Profit-sharing Ratio and Sacrificing Ratio.
Share of goodwill brought in by new partner in cash is shared by old partners in:
Sacrifice Ratio = ____________
Change in profit-sharing ratio of existing partners results in:
