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Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.?
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Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for...
Partnership Ratio and Admission of New Partner
Partnership Ratio:
Behari and Punjabi are partners in the ratio of 2:3 respectively.
New Partner Admission:
Haryanvi is admitted for a 1/3 share.
Capital and Goodwill:
Haryanvi brings in cash of 50,000 for capital and goodwill.
Total Goodwill:
The total goodwill is 30,000.
Goodwill Distribution and Loan Account Interest
Goodwill Distribution:
Behari and Punjabi withdrew 20% of the goodwill amount as per the agreement, and the balance was transferred to their loan account.
Loan Account Interest:
The loan account carried an interest of 10%.
Explanation:
The partnership ratio of Behari and Punjabi is 2:3, meaning that they share profits and losses in the same proportion. When Haryanvi is admitted for a 1/3 share, the new ratio becomes Behari: Punjabi: Haryanvi = 2:3:1.
Haryanvi brings in cash of 50,000 for capital and goodwill, and the total goodwill is 30,000. The goodwill is distributed between the partners as per the agreement, and Behari and Punjabi withdraw 20% of the goodwill amount. The remaining amount is transferred to their loan account, which carries an interest of 10%.
In conclusion, the admission of a new partner affects the partnership ratio, and the distribution of capital and goodwill needs to be agreed upon by all partners. The withdrawal of goodwill and transfer to the loan account is a common practice to maintain the financial stability of the partnership.
Partnership Ratio:
Behari and Punjabi are partners in the ratio of 2:3 respectively.
New Partner Admission:
Haryanvi is admitted for a 1/3 share.
Capital and Goodwill:
Haryanvi brings in cash of 50,000 for capital and goodwill.
Total Goodwill:
The total goodwill is 30,000.
Goodwill Distribution and Loan Account Interest
Goodwill Distribution:
Behari and Punjabi withdrew 20% of the goodwill amount as per the agreement, and the balance was transferred to their loan account.
Loan Account Interest:
The loan account carried an interest of 10%.
Explanation:
The partnership ratio of Behari and Punjabi is 2:3, meaning that they share profits and losses in the same proportion. When Haryanvi is admitted for a 1/3 share, the new ratio becomes Behari: Punjabi: Haryanvi = 2:3:1.
Haryanvi brings in cash of 50,000 for capital and goodwill, and the total goodwill is 30,000. The goodwill is distributed between the partners as per the agreement, and Behari and Punjabi withdraw 20% of the goodwill amount. The remaining amount is transferred to their loan account, which carries an interest of 10%.
In conclusion, the admission of a new partner affects the partnership ratio, and the distribution of capital and goodwill needs to be agreed upon by all partners. The withdrawal of goodwill and transfer to the loan account is a common practice to maintain the financial stability of the partnership.
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Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for...
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Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.?
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Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.?.
Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.?.
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Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.?, a detailed solution for Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.? has been provided alongside types of Behari and punjabi are partners in 2:3 ratio. Haryanvi is admitted for 1/3 share. He brings cash 50,000 for capital and goodwill . Total goodwill is 30,000. Behari and Punjabi as per agreement withdrew 20% of goodwill amount and balance was transferred to their loan account carrying 10% interest.? theory, EduRev gives you an
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