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Can you explain the answer of this question below:
A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :
- A:A only
- B:A, B and C (equally)
- C:A, and B (equally)
- D:A, and C (equally)
The answer is c.
Most Upvoted Answer
Can you explain the answer of this question below:A, B, C are partners...
As A & B are sacrifising 1/9 profit sharing ratio each For D....... It states that they r sacrifising profit equally...... Hence A's & B's capital A/c is Credited
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Can you explain the answer of this question below:A, B, C are partners...
Calculation of Goodwill:
1. Total capital brought in by D = Rs. 30,000
2. Total capital of D and goodwill = Rs. 30,000 + Rs. 10,000 = Rs. 40,000
3. D is admitted for 2/9th share of profits, so the total share of profits = 9/2 * Rs. 40,000 = Rs. 20,000
Adjustment of New Profit Sharing Ratio:
1. The new profit sharing ratio after D's admission is 3:2:2:2
2. The total ratio after D's admission = 3 + 2 + 2 + 2 = 9
3. A's new share = 3/9 * Rs. 20,000 = Rs. 6,666.67
4. B's new share = 2/9 * Rs. 20,000 = Rs. 4,444.44
5. C's new share = 2/9 * Rs. 20,000 = Rs. 4,444.44
6. D's new share = 2/9 * Rs. 20,000 = Rs. 4,444.44
Adjustment of Goodwill in Capital Accounts:
1. As D is bringing Rs. 10,000 for his share of goodwill, it will be credited to the capital accounts of A and B as they are the existing partners.
2. The amount will be credited equally to A and B, as they share profits in the ratio of 4:3 before D's admission.
Therefore, the correct answer is option 'c) A, and B (equally)', where the goodwill amount will be credited in the capital accounts of A and B equally.
1. Total capital brought in by D = Rs. 30,000
2. Total capital of D and goodwill = Rs. 30,000 + Rs. 10,000 = Rs. 40,000
3. D is admitted for 2/9th share of profits, so the total share of profits = 9/2 * Rs. 40,000 = Rs. 20,000
Adjustment of New Profit Sharing Ratio:
1. The new profit sharing ratio after D's admission is 3:2:2:2
2. The total ratio after D's admission = 3 + 2 + 2 + 2 = 9
3. A's new share = 3/9 * Rs. 20,000 = Rs. 6,666.67
4. B's new share = 2/9 * Rs. 20,000 = Rs. 4,444.44
5. C's new share = 2/9 * Rs. 20,000 = Rs. 4,444.44
6. D's new share = 2/9 * Rs. 20,000 = Rs. 4,444.44
Adjustment of Goodwill in Capital Accounts:
1. As D is bringing Rs. 10,000 for his share of goodwill, it will be credited to the capital accounts of A and B as they are the existing partners.
2. The amount will be credited equally to A and B, as they share profits in the ratio of 4:3 before D's admission.
Therefore, the correct answer is option 'c) A, and B (equally)', where the goodwill amount will be credited in the capital accounts of A and B equally.
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Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c.
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Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c..
Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c..
Solutions for Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. in English & in Hindi are available as part of our courses for CA Foundation.
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Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c., a detailed solution for Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. has been provided alongside types of Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. theory, EduRev gives you an
ample number of questions to practice Can you explain the answer of this question below:A, B, C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and brings Rs. 30,000 as capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. Goodwill amount will be credited in the capital accounts of :A:A onlyB:A, B and C (equally)C:A, and B (equally)D:A, and C (equally)The answer is c. tests, examples and also practice CA Foundation tests.
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