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Maan & Shaan are partners in a firm sharing profits equally. Their capitals were ₹90,000 & 1,00,000 respectively. Aan was admitted for 1/3rd share in profits/losses & brought 1,70,000 as capital. Calculate goodwill. a) ₹5,10,000 c) *3,20,000 b) ₹1,50,000 d) Can't determine?
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Maan & Shaan are partners in a firm sharing profits equally. Their cap...
Calculation of Goodwill:


  1. Calculation of Maan and Shaan's Capital:
    Maan's Capital = ₹90,000
    Shaan's Capital = ₹1,00,000
    Total Capital = ₹90,000 + ₹1,00,000 = ₹1,90,000


  2. Calculation of Aan's Capital:
    Aan's Capital = ₹1,70,000


  3. Calculation of Aan's Share in Profits/Losses:
    Aan was admitted for 1/3rd share in profits/losses
    Total Share = 1/3
    Aan's Share = 1/3 x Total Share = 1/3 x ₹1,90,000 = ₹63,333.33


  4. Calculation of Goodwill:
    Goodwill = Aan's Capital - Aan's Share
    Goodwill = ₹1,70,000 - ₹63,333.33 = ₹1,06,666.67


Therefore, the calculated goodwill is ₹1,06,666.67.
So, the correct option is:
b) ₹1,50,000
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Maan & Shaan are partners in a firm sharing profits equally. Their capitals were ₹90,000 & 1,00,000 respectively. Aan was admitted for 1/3rd share in profits/losses & brought 1,70,000 as capital. Calculate goodwill. a) ₹5,10,000 c) *3,20,000 b) ₹1,50,000 d) Can't determine?
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Maan & Shaan are partners in a firm sharing profits equally. Their capitals were ₹90,000 & 1,00,000 respectively. Aan was admitted for 1/3rd share in profits/losses & brought 1,70,000 as capital. Calculate goodwill. a) ₹5,10,000 c) *3,20,000 b) ₹1,50,000 d) Can't determine? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Maan & Shaan are partners in a firm sharing profits equally. Their capitals were ₹90,000 & 1,00,000 respectively. Aan was admitted for 1/3rd share in profits/losses & brought 1,70,000 as capital. Calculate goodwill. a) ₹5,10,000 c) *3,20,000 b) ₹1,50,000 d) Can't determine? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Maan & Shaan are partners in a firm sharing profits equally. Their capitals were ₹90,000 & 1,00,000 respectively. Aan was admitted for 1/3rd share in profits/losses & brought 1,70,000 as capital. Calculate goodwill. a) ₹5,10,000 c) *3,20,000 b) ₹1,50,000 d) Can't determine?.
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