Question :
A, B and C are partners in a firm sharing profits and losses in the ratio 3:2:1. B retired and his claim included capital and other entitlements from the firm including his share of goodwill of the firm's Rs 60,000 After this amount was determined, it was found that there was an unrecorded asset valued at Rs 24,000 which had to be recorded. After recording these unrecorded assets, determine the revised amount payable to B:
Option 1: Rs 60,000
Option 2: Rs 52,000
Option 3: Rs 68,000
Option 4: None of the above
Correct Answer: Rs 68,000
Solution : Answer = Rs 68000
B's share of Goodwill and Capital = 6,000
Profit on Revaluation = 8000
(24000 x 2/6) = 68000
Hence, the correct option is 3.
