| Sun and Star were partners in a firm sharing profits in the ratio of 2 : 1. Moon was admitted as a new partner in the firm. New profit sharing ratio was 3:3:2. Moon brought the following assets towards his share of goodwill and his |
| capital: (Rs.) |
| Machinery 2,00,000 |
| Furniture 1,20,000 |
| Stock 80,000 |
| Cash 50,000 |
| If his capital is considered as Rs. 3,80,000, the goodwill of the firm will be: (CBSE 2020) |
A) Rs. 70,000
B) Rs. 2,80,000
C) Rs. 4,50,000
D) Rs. 1,40,000
Correct Answer: B
Solution :
| [b] Rs. 2,80,000 |
| Hint: Machinery A/c Dr. 2,00,000 |
| Furniture A/c Dr. 1,20,000 |
| Stock A/c Dr. 80,000 |
| Cash A/c Dr. 50.000 |
| To Moon s Capital A/c 3,80,000 |
| To Premium for Goodwill 70,000 |
| Moon's share is goodwill is Rs. 70,000 for 2/8th share. |
| Firm's goodwill = 72,000 \[\times \] 8/2 = Rs. 2,80,000 |
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