Question : Alia, Karan and Shilpa were partners in a firm sharing profits in the ratio of 5: 3: 2. Goodwill appeared in their books at a value of Rs. 60,000 and General Reserve at Rs. 20,000. Karan decided to retire from the firm. On the date of his retirement, goodwill of the firm was valued at Rs. 2,40,000. The new profit-sharing ratio decided between Alia and Shilpa was 2: 3.
Amount payable to Karan on his retirement will be:
Option 1: Rs 72,000
Option 2: Rs 60,000
Option 3: Rs 18,000
Option 4: None of the above
Answer (1)
22nd Jan, 2024
Correct Answer: Rs 60,000
Solution : Answer = Rs 60,000
| G.Reserve $\left(20,000 \times \frac{3}{10}\right)$ | 6,000 |
| Goodwill $\left(2,40,000 \times \frac{3}{10}\right)$ | 72,000 |
| (-) Goodwill(written off) [$\left(60,000 \times \frac{3}{10}\right)$] | (18,000) |
| Amount payable to Karan | 60,000 |
Hence, the correct option is 2.
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