A admitted as a new partner for 1/4 share of future profits, fails to bring in...

 

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A admitted as a new partner for 1/4 share of future profits, fails to bring in cash of Rs. 5,000 towards goodwill but the existing (old) partners B and C sharing profits in the ratio of 3: 2 raise goodwill account at its full value. Therefore, partners will be credited for goodwill as: A B C B = Rs. 3,000, C = Rs. 2,000, A = Nil B = Rs. 9,000, C = Rs. 6,000, A = Rs. 5,000 B = Rs. 12,000, C = Rs. 8,000, A = Nil B = Rs. 2,250, C = Rs. 1,500, A = Rs. 1,250 A admitted as a new partner for 1/4 share of future profits, fails to bring in cash of Rs. 5,000 towards goodwill but the existing (old) partners B and C sharing profits in the ratio of 3: 2 raise goodwill account at its full value. Therefore, partners will be credited for goodwill as: A B C B = Rs. 3,000, C = Rs. 2,000, A = Nil B = Rs. 9,000, C = Rs. 6,000, A = Rs. 5,000 B = Rs. 12,000, C = Rs. 8,000, A = Nil B = Rs. 2,250, C = Rs. 1,500, A = Rs. 1,250

Answer rating: 100% (QA)

Correct option is C Old ratio B and C 32 A is admitted for 14 share of profit f... View the full answer