Question

Uday and Bijoy are partners in a firm. On 1^st April, 2022, they admit Kabir as a partner for 1/3 share in the profits. The adjustments on the date of admission are as follows:

2022
April 1	Bank Loan to be paid off.
April 1	Kabir to bring in capital of ₹ 40,000 but would be unable to bring in his share of goodwill in cash.

These transactions are recorded in the following spreadsheet:

	A	B	C	D	E
	Date	Particulars	Ledger Folio	Debit (₹)	Credit (₹)
	2022	Closing Balances
1.	March 31	Bank A/c		15,000
2.	March 31	Uday's Capital Balance			40,000
3.	March 31	Bijoy' s Capital Balance			30,000
4.	March 31	Bank Loan			10,000
	2022	Transactions
5.	April 1	Bank A/c		40,000
6.	April 1	To Kabir's Current A/c			40,000
7.	April 1	Kabir's Current A/c		?
8.	April 1	To Uday's Capital A/c			3,000
9.	April 1	To Bijoy's Capital A/c			?
10.	April 1	Bank Loan A/c		10,000
11.	April 1	To Bank A/c			10,000
	2022	Opening Balances of reconstituted firm
12.	April 1	Bank A/c		?
13.	April 1	Uday's Capital A/c			?

Based on the above transactions and the information given in the spreadsheet, answer any three of the following questions:

1. Write the formula to calculate Kabir's share of the non-purchased goodwill in cell D7.
2. Write the formula to calculate Uday's opening capital balance in cell E13.
3. Write the formula to calculate the opening Bank balance of the reconstituted firm in cell D12.
4. Give the amount of total value of the non-purchased goodwill of the firm at the time of Kabir's admission.

Answer 1

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