Question : P, Q and R are three partners sharing profits in the ratio of 3: 2: 1. Goodwill appears in the Balance Sheet at a value of Rs. 60,000. Q retires. P and R decided to share future profits in the ratio of 3: 2, amount payable to Q will be ....
Option 1: Rs.12,000
Option 2: Rs.6,000
Option 3: Rs.18,000
Option 4: Rs.13,333
Correct Answer: Rs.12,000
Solution : Q's share = 2/6 Q's share of goodwill = Rs.60,000 X 2/6 = Rs.12,000. Hence, the correct option is 1.
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
Question : P, Q and R are partners sharing profit and losses in the ratio of 3: 2: 1. Q retires selling his share of profit to P and R for Rs 54,000 being paid by P and Rs 36,000 being paid by R. Calculate new profit sharing ratio.
Question : X, Yand Zare partners sharing profits in the ratio of 2: 3: 5. Goodwill is appearing in their books at a value of Rs. 6,00,000. X retires and on the day of his retirement Goodwill is valued at Rs. 4,50,000. Yand Z decided to share future profits equally. Amount payable to X is
Question : A, B and C are sharing profits in the ratio of 3: 2: 1. Goodwill is appearing in the books at a value of Rs. 2,40,000. B retires and on the day of B's retirement Goodwill is valued at Rs. 6,00,000. A and C decided to share future profits in the ratio of 3: 2 amount payable
Question : J, M and R are sharing profits and losses equally. R retires and the goodwill is appearing in the books at Rs. 30,000. Goodwill of the firm is valued at Rs. 1,50,000. Calculate the net amount to be credited to R's Capital A/c.
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile