Question

Kajal and Laura were partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Maddy for `1/4`th share in future profits. Maddy brought ₹ 8,00,000 as his capital and ₹ 4,00,000 as his share of premium for goodwill. Kajal, Laura and Maddy decided to share profits in future in the ratio of 2 : 1 : 1. After all adjustments in respect of goodwill, revaluation of assets and liabilities etc. Kajal’s capital was ₹ 15,00,000 and Laura’s capital was ₹ 8,00,000. It was agreed that partners’ capitals should be in proportion to their new profit sharing ratio taking Maddy’s capital as base. The adjustment was made by bringing in or withdrawing the necessary cash as the case may be. The cash brought in by Kajal was:

विकल्प

• ₹ 1,00,000

• ₹ 8,00,000

• ₹ 16,00,000

• ₹ 12,00,000

Answer 1

₹ 1,00,000

Explanation:

Capital of new firm on the basis of Maddy’s Capital = 8,00,000 × `4/1` = ₹ 32,00,000.

New Capital of Kajal = 32,00,000 × `2/4` = ₹ 16,00,000.

Cash brought in by Kajal = New Capital – Adjusted Capital

= ₹ 16,00,000 – ₹ 15,00,000 

= ₹ 1,00,000