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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 in the ratio of 3:2. They decided to admit C as a new partner with 1/4th share in future profit. The new profit sharing ratio is 5:4:3. C could not bring his share of goodwill in cash. On the date of admission, firm's goodwill was calculated Rs. 72,000., Capital Accounts of A and B will be credited with:

    A) A = 13,200; B = 4,800

    B) A = 10,800; B = 7,200

    C) A = 10,000; B = 8,000

    D) A = 52,800; B = 19,200

    Correct Answer: A

    Solution :

    A = 13,200; B = 4,800


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