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प्रश्न
L, M and O are partners sharing profits and losses in the ratio of 4 : 3 : 2. M retires and the goodwill is valued at ₹ 72,000. Calculate M's share of goodwill and pass the Journal entry for Goodwill. L and O decided to share the future profits and losses in the ratio of 5 : 3.
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उत्तर
Journal
|
Particulars |
L.F. |
Date Amount Rs |
Credit amount Rs |
|
|
L’s Capital A/c |
Dr. |
|
13,000 |
|
|
O’s Capital A/c |
Dr. |
|
11,000 |
|
|
To M’s Capital A/c |
|
|
24,000 |
|
|
(Adjustment M’s share of goodwill made) |
|
|
|
|
Working Note:
WN 1 Calculation of Gaining Ratio
Old Ratio (L, M and O) = 4 : 3 : 2
M retires from the firm.
New Ratio (L and O) = 5 : 3
Gaining Ratio = New Ratio − Old Ratio
L's share = `5/8 - 4/9 = (45-32)/72 = 13/72`
O's share = `3/8 - 2/9 = (27-16)/72 = 11/72`
∴ Gaining Ratio = 13 : 11
WN 2 Adjustment of Goodwill
Goodwill of the firm = Rs 72,000
M's share of goodwill =`72000 xx 3/9 = Rs 24000`
This share of goodwill is to be debited to remaining Partners’ Capital Accounts in their gaining ratio (i.e. 13 : 11).
L is to be debited with `24,000 xx 13/24 = "Rs" 13,000`
O is to be debited with `24,000 xx 11/24 = "Rs" 11,000`
