Question : Apurva, Dimple, Komal and Saloni are partners in a firm sharing profits and losses in the ratio of 2: 2: 1: 1. Dimple and Komal decided to retire from the firm. The goodwill of the firm was valued at Rs.9,00,000. Apurva and Saloni decided to share future profits and losses in the ratio of 3: 2
Choose the correct Journal entry.
Option 1: Apurva's Capital A/c........Dr 2,40,000
Saloni's Capital A/c..........Dr 2,10,000
To Dimple's Capital A/c 3,00,000
To Komal Capital A/c 1,50,000
Option 2: Saloni's Capital A/c.........Dr 2,10,000
To Dimple's Capital A/c 60,000
To Komal Capital A/c 1,50,000
Option 3: Apurva's Capital A/c..........Dr 4,50,000
To Dimple's Capital A/c 3,00,000
To Komal Capital A/c 1,50,000
Option 4: None of the above.
Correct Answer:
Apurva's Capital A/c........Dr 2,40,000
Saloni's Capital A/c..........Dr 2,10,000
To Dimple's Capital A/c 3,00,000
To Komal Capital A/c 1,50,000
Solution :
Answer =
Apurva's Capital A/c........Dr 2,40,000
Saloni's Capital A/c..........Dr 2,10,000
To Dimple's Capital A/c 3,00,000
To Komal Capital A/c 1,50,000
Apurva= $\frac{3}{5}-\frac{2}{6}=\frac{18-10}{30}=\frac{8}{30}$×9,00,000= 2,40,000
Saloni= $\frac{2}{5}-\frac{1}{6}=\frac{12-5}{30}=\frac{7}{30}$×9,00,000= 2,10,000
Dimple= $\left(9,00,000 \times \frac{2}{6}\right)$= 3,00,000.
Komal= $\left(9,00,000 \times \frac{1}{6}\right)$= 1,50,000.
Apurva's Capital A/c........Dr 2,40,000
Saloni's Capital A/c..........Dr 2,10,000
To Dimple's Capital A/c 3,00,000
To Komal Capital A/c 1,50,000
Hence, the correct option is 1.
