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 ___________.
Option 1: 30,000
Option 2: 90,000
Option 3: 1,20,000
Option 4: None of the above
Answer (1)
22nd Jan, 2024
Correct Answer: None of the above
Solution : Answer = None of the above
| X's Capital A/c | |||
| To Goodwill $\left(6,00,000 \times \frac{2}{10}\right)$ | 1,20,000 | By Y's Capital A/c | 90,000 |
| By X's Loan A/c (b/f) | 30,000 | ||
| 1,20,000 | 1,20,000 | ||
Gaining ratio= New ratio- Old ratio
$Y=\frac{1}{2}-\frac{3}{10}=\frac{5-3}{10}=\frac{2}{10} \times 4,50,000=90,000$
$Z=\frac{1}{2}-\frac{5}{10}=\frac{5-5}{10}=\frac{0}{10}$.
Hence, the correct option is 4.
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