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प्रश्न
A, B, C and D are partners sharing profits in the ratio of 3 : 3 : 2 : 2 respectively. D retires and A, B and C decide to share the future profits in the ratio of 3 : 2 : 1. Goodwill of the firm is valued at Rs 6,00,000. Goodwill already appears in the book at Rs 4,50,000. The profits for the first year after D’s retirement amount to Rs 12,00,000. Give the necessary Journal entries to record Goodwill and to distribute the profits. Show your calculations clearly.
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उत्तर
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Journal Entries |
|||||
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Date |
Particulars |
L.F. |
Debit Amount Rs |
Credit Amount Rs |
|
|
|
A’s Capital A/c B’s Capital A/c C’s Capital A/c D’s Capital A/c To Goodwill A/c (Goodwill written-off)
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Dr. Dr. Dr. Dr.
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|
1,35,000 1,35,000 90,000 90,000
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4,50,000 |
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|
A’s Capital A/c B’s Capital A/c To D’s Capital A/c To C’s Capital A/c (New goodwill adjusted)
Profit and Loss Appropriation A/c To A’s Capital A/c To B’s Capital A/c To C’s Capital A/c (Profit earned after D’s retirement distributed)
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Dr. Dr.
Dr.
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1,20,000 20,000
12,00,000 |
1,20,000 20,000
6,00,000 4,00,000 2,00,000 |
Notes
Gaining Ration = New Ratio − Old Ratio
`A=3/6-3/10`
=`15-9/30`
=`6/30`
`B=2/6-3/10`
=`(10-9)/30`
=`1/30`
`C=1/6-2/10`
=`(5-6)/30`
=`-1/30` (Sacrificing)
New Goodwill = 6,00,000
D’s Share in New Goodwill =`6,00,000xx2/10`
= Rs 1,20,000
C’s Share of Sacrificing Goodwill =`6,00,000xx1/30`
= Rs 20,000
A’s gain in new Goodwill =`6,00,000xx6/30=12,00,000`
B’s gain in new Goodwill =`6,00,000xx1/30=20,000`
Distribution of profit earned after D’s retirement
`A=12,00,000xx3/6`
=`"Rs" 6,00,000 `
` B=12,00,000xx2/6`
= `"Rs" 4,00,000`
`C=12,00,000xx1/6`
=`"Rs " 2,00,000`
