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
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.
Question : X, Y and Z are partners in a firm in 3:2:1. Z is Guaranteed that he will get a minimum of Rs 20,000 as his share of Profit every year. The firm's profit was Rs 90,000 Partners will get.
Question :
X, Y and Z are partners in a firm sharing profits arid losses in the ratio of 1: 2: 3. Z retires and his Capital Account after making all adjustments of reserve and gain (profit) on revaluation exists at Rs. 3,60,000. X and Y agreed to pay him
Question : X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership with 1/5th share in profits which he acquires equally from X and Y. Z brings in Rs.40,000 as goodwill in cash. Goodwill amount will be credited to -
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