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12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    A and B are partners sharing profits and losses in the ratio of 3 : 2. C is admitted into partnership for l/5th share in profit He pays Rs. 1,00,000 as goodwill. The ratio of the partners A, B and C in the new firm would be 3 : 1 :1. Goodwill will be credited to:

    A) only A Rs. 1,00,000

    B) only B Rs. 1,00,000

    C) A Rs. 60,000; B Rs. 40.000

    D) A Rs. 75,000; B Rs. 25,000

    Correct Answer: B

    Solution :

    [b] only B Rs. 1,00,000
    Hint: Sacrificing Share = Old Share - New Share
    A = \[\frac{3}{5}-\frac{3}{4}=\frac{12-15}{20}=\left( \frac{3}{20} \right)\]
    B = \[\frac{2}{5}-\frac{1}{4}=\frac{8-5}{20}=\frac{3}{20}\]
    C's share of goodwill i.e. Rs. 1,00,000 will be credited to only B as he is the only sacrificing partner.


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