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Partnership
P and Q are partners sharing profits in the ratio of 2:1. R is admitted to the partnership with effect from 1st April on the term that he will bring Rs. 20000 as his capital for 1/4th share and pays Rs. 9000 for goodwill half of which is to be withdrawn by P and Q. how much cash can P and Q withdraw from the firm if any
Replies (2)
The new profit sharing ratio will be 2:1:1.the goodwill will be distributed in sacrificing ratio which comes out to be 2:1. Hence goodwill distributed will be 6000 and 3000. Each will draw half if it hence 3000 and 1500 by P and Q resp.
Thanks a lottt for teh immediate reply
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