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प्रश्न
A and B are partners sharing profits and losses as 2 : 1. On 1st April, 2022 they admit C as a partner for `1/4`th share who pays ₹ 4,50,000 as goodwill privately. On 1st April, 2023, they take D as a partner for `3/5`th share who brings ₹ 4,00,000 as goodwill, out of which half is withdrawn by the existing partners. On lst April, 2024, E is admitted as a partner for `1/6`th share who brings ₹ 5,00,000 as goodwill which is retained in the business.
Journalise the above transactions in the books of the firm.
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उत्तर
| Journal Entries | ||||
| Date | Particulars | L.F. | Debit (₹) | Credit (₹) |
| 2023 | ||||
| April 1 | Bank A/c ...Dr. | 4,00,000 | ||
| To Premium for Goodwill A/c | 4,00,000 | |||
| (Premium for goodwill brought in by D) | ||||
| April 1 | Premium for Goodwill A/c ...Dr. | 4,00,000 | ||
| To A’s Capital A/c | 2,00,000 | |||
| To B’s Capital A/c | 1,00,000 | |||
| To C’s Capital A/c | 1,00,000 | |||
| (Premium credited to A, B and C in the sacrificing ratio of 2 : l : l) | ||||
| April 1 | A’s Capital A/c ...Dr. | 1,00,000 | ||
| B’s Capital A/c ...Dr. | 50,000 | |||
| C’s Capital A/c ...Dr. | 50,000 | |||
| To Bank A/c | 2,00,000 | |||
| (Half of premium withdrawn by the old partners) | ||||
| 2024 | ||||
| April 1 | Bank A/c ...Dr. | 5,00,000 | ||
| To Premium for Goodwill A/c | 5,00,000 | |||
| (Premium for goodwill brought in by E) | ||||
| April 1 | Premium for Goodwill A/c ...Dr. | 5,00,000 | ||
| To A’s Capital A/c | 1,00,000 | |||
| To B’s Capital A/c | 50,000 | |||
| To C’s Capital A/c | 50,000 | |||
| To D’s Capital A/c | 3,00,000 | |||
| (Premium credited to A, B, C and D in the sacrificing ratio of 2 : l : l : 6) | ||||
Working Notes:
(1) C has paid the premium privately, and hence, no entry is required to be passed for such payment.
(2) Calculation of profit sharing ratios:
(i) After C’s admission:
C is given a `1/4` share. Hence the remaining share is `1 - 1/4 = 3/4`
A’s share = `2/3 xx 3/4`
= `6/12`
= `2/4`
B’s share = `1/3 xx 3/4`
= `3/12`
= `1/4`
C’s share = `1/4`
Profit sharing ratio = `2/4 : 1/4 : 1/4` or 2 : 1 : 1
(ii) After D’s admission:
D is given a `3/5` share. Hence the remaining share is `1 - 3/5 = 2/5`
A’s share = `2/4 xx 2/5`
= `4/20`
= `2/10`
B’s share = `1/4 xx 2/5`
= `2/20`
= `1/10`
C’s share = `1/4 xx 2/5`
= `2/20`
= `1/10`
D’s share = `3/5 xx 4/4`
= `12/20`
= `6/10`
(3) As the new profit-sharing ratios are not given in the question, it will be presumed that the partners have sacrificed in their old ratio.
