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Question :

A, B and C were partners in a firm sharing profits in the ratio of 6:5:4.Their capitals were A—Rs. 1,00,000; B—Rs. 80,000 and C—Rs. 60,000 respectively. On 1st April, 2009, A retired from the firm and the new profit-sharing ratio between B and C was decided as 1:4.0n A's retirement, the goodwill of the firm was valued at Rs. 1,80,000. Balance of General reserve Rs. 60,000 and profit and loss debit balance Rs. 30,000. Amount payable to A will be 

 

Option 1: Rs 1,84,000

Option 2: Rs 1,96,000

Option 3: Rs 1,00,000

Option 4: None of the above 


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: Rs 1,84,000


Solution : Answer = Rs 1,84,000

A's Capital A/c

To Profit and loss

(30,000 x 6/15)

12000 By Bal. B/D 1,00,000
To A's Loan A/c 1,84,000

By Reserve

(60,000 x 6/15)

24000
By Goodwill (1,80,000 x 6/15) 72000
1,96,000 1,96,000

Hence, the correct option is 1.

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