Question : Y, V and K are partners sharing profits and losses in the ratio of 2: 2: I. V died, and at that time goodwill of the firm was valued at Rs. 30,000. The contribution to be made by Y and K, I in order to pay off V is __________and ___________ respectively.
Option 1: Rs 4,000 and Rs 8,000
Option 2: Rs 8,000 and Rs 4,000
Option 3: Rs 10,000 and Rs 5,000
Option 4: None of the above
Correct Answer: Rs 8,000 and Rs 4,000
Solution : Answer = Rs 8000 and Rs 4000 V's share of good will= $30,000 \times \frac{2}{5}$= 12,000 Y's capital a/c Dr 8,000[$12,000 \times \frac{2}{3}$] K's capital a/c Dr 4,000 To V's capital a/c 12,000 (G.Ratio= 2:1) Hence, the correct option is 2.
Question : J, M and R are sharing profits and losses equally. R retires and the goodwill is appearing in the books at Rs. 30,000. Goodwill of the firm is valued at Rs. 1,50,000. Calculate the net amount to be credited to R's Capital A/c.
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