Question : R, B and L were partners sharing profits and losses in the ratio of 8:4:3. From 1st January 2019 they decided to share profits and losses in the ratio of 7:3:2. Goodwill is Rs 60,000 adjustment entry for goodwill:
Option 1: Cr. R by Rs 3,000; Dr. B by 1,000; Dr. L Rs 2,000
Option 2: Dr. R by Rs 3,000; Cr. B by Rs1,000; Cr. L by Rs 2000
Option 3: Cr. R by Rs 3,000; Dr. B by Rs2,000; Dr. L by Rs 1,000
Option 4: Dr. R by Rs 3,000; Cr. B by Rs2,000; Cr. L by Rs 1,000
Correct Answer: Dr. R by Rs 3,000; Cr. B by Rs1,000; Cr. L by Rs 2000
Solution : Answer = Cr. R by Rs 3,000; Dr. B by 1,000; Dr. L Rs 2,000
S.R. = O.R. - N.R.
R = 8/15 - 7/12 = 32-35/60 = -3/60 x 60,000 = 3000
B = 4/15 - 3/12 = 16-15/60 = 1/60 = 1000
L = 3/15 - 2/12 = 12- 10/60 = 2/60 = 2000
R's Capital A/c Dr 3000
To B's Capital A/c - 1000
To L's Capital A/c - 2000
Hence, the correct option is 2.
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