question_answer

From the above information find out 13 to 16 :

Ridhi, Param and Yashika were partners sharing profits and losses in the ratio of 3:3:2. They agree to admit Mohit as a new partner in the firm for 1/5th share. New profit-sharing ratio was decided by the partners and added to the agreement. New partner could bring only 75% of his share of premium in cash. Following entries were passed at if time of admission.

Date Particulars L.F. Debit Credit Cash A/c Dr. 5,00,000 To Mohit's Capital A/c 4,10,000 To Premium for Goodwill A/c 90,000 (Being capital and premium brought by new partner) Yashika's Capital A/c Dr. 20,000 Premium for Goodwill A/c Dr. 90,000 Mohit's Current A/c Dr. 30,000 (unpaid premium) To Ridhi's Capital A/c 1,20,000 To Param's Capital A/c 20,000 (Being premium adjusted)

Total Goodwill of the firm:

A) 4,50,000 

B) 5,00,000

C) 5,50,000

D) 6,00,000