Question

Mohit and Govind were partners in a firm with a ratio of 1:2. They admitted Ravi for 1/5th share in profits. He brought ₹2,50,000 for capital but could not bring goodwill. The goodwill of the firm was valued at ₹3,00,000. What Journal Entry will be passed for the treatment of goodwill?

पर्याय

• Asset A/c	Dr.     60,000
  To Ravi's Capital A/c	60,000

• Cash A/c	Dr.      60,000
  To Goodwill A/c	60,000

• Mohit's Capital A/c	Dr.   20,000
  Govind's Capital A/c	Dr.   40,000
  To Ravi's Capital A/c	60,000

• Ravi's Capital A/c	Dr.    60,000
  To Mohit's Capital A/c	20,000
  To Govind's Capital A/c	40,000

Answer 1

Ravi's Capital A/c	Dr.    60,000
To Mohit's Capital A/c	20,000
To Govind's Capital A/c	40,000

Explanation:

Ravi's goodwill share will be divided among the sacrificing partners according to the sacrificing ratio.