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.
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