Partnership

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Hard

common

Gaurav and Rana are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 90,000 and Rs. 60,000 respectively. They admitted Rajiv on April 1, 2025 as a new partner for 1/4 share in the future profits. Rajiv brought Rs. 80,000 as his capital. Calculate the value of goodwill of the firm.

Rs. 80,000

Rs. 1,10,000

Rs. 90,000

Rs. 60,000

✅ Correct Option: 3

Capitalised value of the firm on Rajiv's basis $= 80{,}000 \times \frac{4}{1} = 3{,}20{,}000$ .

Combined capital $= 90{,}000 + 60{,}000 + 80{,}000 = 2{,}30{,}000$ .

Goodwill $= 3{,}20{,}000 - 2{,}30{,}000 = 90{,}000$ .

2025: 14 May Shift 1

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

2026: 31 May Shift 1

At the time of admission of a new partner, goodwill is adjusted because:

2025: 13 May Shift 1

R and S are partners in a firm sharing profits in the ratio of 5:3. They admitted B as a new partner for 1/7th share in the profit. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of R and S is:

2026: 31 May Shift 1

Shubham and Gill are partners in a firm sharing profits in the ratio of 5:3. They admit Hardik as a new partner for 1/7 share in the profit. The new profit sharing ratio will be 4:2:1. What will be the sacrificing ratio of Shubham and Gill?

2025: 22 May Shift 1

The ratio in which the old partners agree to give their share of profit in favor of the incoming partner is called:

2026: 23 May Shift 2

A and B are partners sharing profits in the ratio of 4:3. C was admitted as a new partner for 1/4 share in the future profits of the firm. What would be the new profit sharing ratio of A, B and C?

Solution

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