Question

Vasudha and Veena were in partnership sharing profits and losses in the ratio of 3 : 1. They admitted Tilak as a new partner. Tilak brought ₹ 1,20,000 as his share of goodwill premium, which was credited to Vasudha and Veena’s capital accounts in the ratio of 2 : 1. On the date of admission, the goodwill of the firm was valued at ₹ 4,80,000. The new profit-sharing ratio will be ______.

विकल्प

• 7 : 2 : 3

• 8 : 1 : 3

• 9 : 3 : 4

• 5 : 1 : 2

Answer 1

Vasudha and Veena were in partnership sharing profits and losses in the ratio of 3 : 1. They admitted Tilak as a new partner. Tilak brought ₹ 1,20,000 as his share of goodwill premium, which was credited to Vasudha and Veena’s capital accounts in the ratio of 2 : 1. On the date of admission, the goodwill of the firm was valued at ₹ 4,80,000. The new profit-sharing ratio will be 7 : 2 : 3.

Explanation:

Firm’s Goodwill ₹ 4,80,000. Tilak brings in ₹ 1,20,000 as his share of goodwill.

Hence, Tilak’s share of profit = `(1,20,000)/(4,80,000)`

= `1/4`

Sacrificing Ratio of Vasudha and Veena 2 : 1

Hence, Vasudha Sacrifices = `1/4 xx 2/3`

= `2/12`

Veena Sacrifices = `1/4 xx 1/3`

= `1/12`

Vasudha’s New Share = `3/4 - 2/12`

= `(3 xx 3)/(4 xx 3) - 2/12`

= `9/12 - 2/12`

= `7/12`

Veena’s New Share = `1/4 - 1/12`

= `(1 xx 3)/(4 xx 3) - 1/12`

= `3/12 - 1/12`

= `2/12`

Tilak’s Share = `1/4`

= `(1 xx 3)/(4 xx 3)`

= `3/12`

The New Profit Sharing Ratio = `7/12 : 2/12 : 3/12` or 7 : 2 : 3