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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


Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

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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