Question : X and Y are partners sharing profit and losses in the ratio of 2: 1. They admit Z into partnership with 1/4th share in profits which he acquires equally from X and Y. Z brings in Rs. 1,65,000 as capital and Rs. 30,000 as goodwill in cash. Partners capital account will be credited with _____ and new profit sharing between partners will be............
Option 1: X's credited with Rs 20,000 and Y with Rs 10,000, NPSR 13: 5: 6
Option 2: X's credited with Rs 15,000 and Y with Rs 15,000, NPSR is 3: 2: 1
Option 3: X's credited with Rs 15,000 and Y with Rs 15,000, NPSR is 13: 5: 6
Option 4: None of the above
Correct Answer: X's credited with Rs 15,000 and Y with Rs 15,000, NPSR is 13: 5: 6
Solution : Answer = X is credited with Rs 15,000 and Y with Rs 15,000 NPSR is 13: 5: 6
| Particulars | L.F. | Dr. (Rs.) | Cr. (Rs.) |
| Bank A/c Dr 1,95,000 | 1,95,000 | ||
| To Z's Capital A/c | 1,65,000 | ||
|
To Premium for Goodwill A/c
(The amount of capital and goodwill/premium brought in cash) |
30,000 | ||
| Premium for Goodwill A/c Dr. | 30,000 | ||
| To X's Capital A/c | 15,000 | ||
|
To Y's Capital A/c
(Goodwill/premium transferred to old partners capitals in sacrifice ratio i.e., equally) |
15,000 |
Calculation of new profit sharing ratios :
Z's share is $\frac{1}{4}$ which he acquires equally from X and Y.
Therefore, Z gets his share from $X=\frac{1}{2}$ of $\frac{1}{4}=\frac{1}{8}$
Z gets his share from $y=\frac{1}{2}$ of $\frac{1}{4}=\frac{1}{8}$
New Ratio of $X=\frac{2}{3}-\frac{1}{8}=\frac{13}{24}$
New Ratio of $y=\frac{1}{3}-\frac{1}{8}=\frac{5}{24}$
Thus, X: Y: Z
$\frac{13}{24}: \frac{5}{24}: \frac{1}{4}=\frac{13: 5: 6}{24}=13: 5: 6$ New Ratio
Hence, the correct option is 3.
