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A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will be
  • a)
    Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000
  • b)
    Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000
  • c)
    Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000
  • d)
    Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A & B are partners in a firm sharing profits and losses in the rat...
Calculation of New Profit Sharing Ratio:
- A's share = 5/8
- B's share = 3/8
- C's share = 1/5
- Total share = (5+3+1)/5 = 9/5
- New profit sharing ratio = A:B:C = 5/8 * 5/9 : 3/8 * 5/9 : 1/5 = 25:15:9

Calculation of Goodwill:
- C's share in goodwill = 1/5
- Total goodwill = Rs. 16,000 * 5 = Rs. 80,000
- C's share in goodwill = Rs. 80,000 * 1/5 = Rs. 16,000

Calculation of New Capital:
- A's new capital = Rs. 2,50,000 * 25/49 = Rs. 1,28,205.13
- B's new capital = Rs. 2,00,000 * 15/49 = Rs. 61,538.46
- C's new capital = Rs. 50,000 + Rs. 16,000 = Rs. 66,000
- Total new capital = Rs. 2,55,743.59

Calculation of Closing Capital:
- A's closing capital = Rs. 1,28,205.13 + (5/8 * Profit) = Rs. 2,60,243.59
- B's closing capital = Rs. 61,538.46 + (3/8 * Profit) = Rs. 2,06,743.59
- C's closing capital = Rs. 66,000 + (1/5 * Profit) = Rs. 50,000 + (9/45 * Profit) = Rs. 50,200
- Total closing capital = Rs. 2,60,243.59 + Rs. 2,06,743.59 + Rs. 50,200 = Rs. 5,17,187.18

Therefore, the correct answer is option 'A' - Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000.
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Community Answer
A & B are partners in a firm sharing profits and losses in the rat...
Goodwill is divided in 5:3 16000/8*5 = 10,000 & 16000/8*3 = 6000. Added in A & B's capital that's why Ans is 2,60,000. 2,06,000. 50,000
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A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer?
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A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer?.
Solutions for A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer?, a detailed solution for A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice A & B are partners in a firm sharing profits and losses in the ratio of 5 : 3 with capitals of Rs.2,50,000 and Rs.2,00,000 respectively. C is admitted as a new partner who brings Rs.50,000 as capital and Rs.16,000 as goodwill for his 1/5th share. The closing capitals of all the partners will bea)Rs. 2,60,000, Rs. 2,06,000, Rs. 50,000b)Rs. 2,58,000, Rs. 2,08,000, Rs. 50,000c)Rs. 2,58,000, Rs. 2,08,000, Rs. 66,000d)Rs. 2,66,000, Rs. 2,00,000, Rs. 50,000Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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