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प्रश्न
Virad, Vishad and Roma were partners in a firm sharing profits in the ratio of 5 : 3 : 2 respectively. On 31st March, 2013, their Balance Sheet was as under:
| Liabilities | ₹ | Assets | ₹ | ||
| Capital A/cs: | Buildings | 2,00,000 | |||
| Virad | 3,00,000 | Machinery | 3,00,000 | ||
| Vishad | 2,50,000 | Patents | 1,10,000 | ||
| Roma | 1,50,000 | 7,00,000 | Stock | 1,00,000 | |
| Reserve Fund | 60,000 | Debtors | 80,000 | ||
| Creditors | 1,10,000 | Cash | 80,000 | ||
| 8,70,000 | 8,70,000 | ||||
Virad died on 1st October, 2013. It was agreed between his executors and the remaining partners that:
(i) Goodwill of the firm be valued at 212 years purchase of average profits for the last three years. The average profits were ₹ 1,50,000.
(ii) Interest on capital be provided at 10% p.a.
(iii) Profits for the 2013-14 be taken as having accrued at the same rate as that of the previous year which was ₹ 1,50,000.
Prepare Virad's Capital Account to be presented to his Executors as on 1st October, 2013.
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उत्तर
Virad’s Capital Account
|
Dr. |
|
Cr. |
|||
|
Particulars |
Amount (Rs) |
Particulars |
Amount (Rs) |
||
|
|
|
Balance b/d |
3,00,000 |
||
|
Executor’s A/c |
5,70,000 |
Vishad’s Capital A/c |
1,12,500 |
||
|
|
|
Roma’s Capital A/c |
75,000 |
||
|
|
|
Profit and Loss Suspense A/c |
37,500 |
||
|
|
|
Reserve Fund |
30,000 |
||
|
|
|
Interest on Capital |
15,000 |
||
|
|
5,70,000 |
|
5,70,000 |
||
Calculation of gaining ratio of vishad and roma:
`"Old Ratio" = "Virad" : "Vishad" : "Roma"`
`5 : 3 : 2`
`"New Ratio" 3 : 2`
`"Gaining Ratio" = "New Ratio" - "Old Ratio"`
`"Vishad's Gain" = 3/5 - 3/10 = 3/10`
`"Roma's Gain" = 2/5 - 2/10 = 2/10`
`"Gaining Ratio" = 3 : 2`
WN1 : Calculation of virad's share of goodwill:
`"Goodwill of the firm" = "Average profit" xx "Number of year's Purchase"`
`"Goodwill of the firm" = 1,50,000 xx 2(1/2) = "Rs" 3,75,000`
`"Share of goodwill of virad" = 3,75,000 xx 5/10 = "Rs" 1,87,500`
`"Vishad will give" = 1,87,500 xx 3/5 = "Rs" 1,12,500`
`"Roma will give" = 1,87,500 xx 2/5 = "Rs" 75,000`
WN2: Calculation of profit share of virad:
`"Profit for the year" = "Rs" 1.50,000`
`"Virad's share of profit" = 1,50,000 xx 6/12 xx 5/10 = "Rs" 37,500`
WN3 : Calculation of interest on Virad's Capital
`"Virad's Capital" = 3,00,000`
`"Interest on capital" = 3,00,000 xx 6/12 xx 10/100 = "Rs" 15,000`
WN4 "Virad's share of reserve fund:
`"Share of reserve fund" = 60,000 xx 5/10 = "Rs" 30,000`
