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Question
Nita and Samar are partners in a firm sharing profits in the ratio of 3 : 2. Their fixed capitals were ₹ 90,000 and ₹ 2,10,000 respectively. They admitted Mitali on April 1, 2022 as a new partner for 1/5th share in future profits. Mitali brought ₹ 1,50,000 as her capital. The value of goodwill of the firm of Mitali's admission was ______.
Options
₹ 3,00,000
₹ 7,50,000
₹ 1,50,000
₹ 30,000
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Solution
Nita and Samar are partners in a firm sharing profits in the ratio of 3 : 2. Their fixed capitals were ₹ 90,000 and ₹ 2,10,000 respectively. They admitted Mitali on April 1, 2022 as a new partner for 1/5th share in future profits. Mitali brought ₹ 1,50,000 as her capital. The value of goodwill of the firm of Mitali's admission was ₹ 3,00,000.
Explanation:
Mitali brought capital for `1/5`th share = ₹ 1,50,000
Total capital of the firm = `₹ 1,50,000 xx 5/1 = ₹ 7,50,00`
Actual total capital of Nita, Samar and Mitali = ₹ 90,000 + ₹ 2,10,000 + ₹ 1,50,000
= ₹ 4,50,000
Value of Goodwill of the Firm = Total Capital of Firm - Actual Total Capital
= ₹ 7,50,000 - ₹ 4,50,000 = ₹ 3,00,000
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