cpt (na) (30 Points)
17 June 2009HELLO EVERYONE
CAN ANYBODY HELP ME IN THIS ACCOUNTS PROBLEMS ....
1. A AND B ARE PARTNERS SHARING THE PROFIT IN THE RATIO OF 3:2. THEY TAKE C AS THE NEW PARTNER, WHO BRINGS IN Rs. 25,000 AGAINST CAPITAL AND Rs. 10,000 AGAINST GOODWILL. NEW PROFIT SHARING RATIO IS 1:1:1. IN WHAT RATIO WILL THIS AMOUNT WILL BE SHARED AMONG THE OLD PARTNERS A AND B..
gagan
(accountant)
(22 Points)
Replied 17 June 2009
Amt of goodwill will be shared among old patners in their sacrificing ratio;
CA Ruben Balooni
(Professionalism ™)
(1324 Points)
Replied 17 June 2009
amount of goodwill will be shared among A & B in sacrificing ratio
scrificing ratio = old ratio - new ratio.
which will be for A = 3/5 - 1/3 = 4/15
and for B = 2/5 - 1/3 = 1/15
therefore sacrificing ratio = 4:1
divide Rs. 10000 (C's share of goodwill) among A & B in 4:1
therefore entries will be
Cash/Bank A/c Dr. 35000
To C's Capital A/c 25000
To Premium 10000
& for distribution of premium
Premium (Goodwill) A/c Dr. 10000
To A's Capital A/c [(4/5) * 10000] 8000
To B's Capital A/c (1/5) * 10000] 2000
CA Paras jain
(Audit Senior Assistant)
(1544 Points)
Replied 18 June 2009
amt of premium wud b shared by xisting parteners in sacrificing ratio..
sac by A=3/5-1/3 = 4/15
sac by B=2/5-1/3 = 1/15
sacrificing ratio = 4:1 {ratio in which amt wud b shared by xisting parteners}
amt distributed to A n B :
prmium to A = 4/5 x 10000 = 8000
premium to B = 1/5 x 10000 = 2000
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