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A and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.
- a)8,000:2,000.
- b)5,000:5,000.
- c)Old partners will not get any share in the goodwill bought in by C.
- d)6,000:4,000.
Correct answer is option 'A'. Can you explain this answer?
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A and B are partners sharing the profit in the ratio of 3:2. They take...
We are given old ratio of A and B 3:2
After admission of c the new ratio will 1:1:1
So,we know that goodwill of new partner will be divided to old partner in sacrificing ratio
So first of all calculate sacrificing ratio
A's sacrificing ratio=3/5-1/3=9-5/15=4/15
B's sacrificing ratio=2/5-1/3=6-5/15=1/5
So the sacrificing ratio is 4:1 of A and B respectively.
Goodwill shared between A and B in old profit sharing ratio is
A's= 10000×4/5=8000B's=10000×1/5=2000
After admission of c the new ratio will 1:1:1
So,we know that goodwill of new partner will be divided to old partner in sacrificing ratio
So first of all calculate sacrificing ratio
A's sacrificing ratio=3/5-1/3=9-5/15=4/15
B's sacrificing ratio=2/5-1/3=6-5/15=1/5
So the sacrificing ratio is 4:1 of A and B respectively.
Goodwill shared between A and B in old profit sharing ratio is
A's= 10000×4/5=8000B's=10000×1/5=2000
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A and B are partners sharing the profit in the ratio of 3:2. They take...
Solution:
Given:
- A and B are partners sharing the profit in the ratio of 3:2.
- C is the new partner who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill.
- The new profit sharing ratio is 1:1:1.
Step 1: Calculate the new total capital
The total capital after the admission of C can be calculated by adding the capital brought in by C to the existing capital of A and B.
Total capital = Capital of A + Capital of B + Capital of C
= Rs. 0 + Rs. 0 + Rs. 25,000
= Rs. 25,000
Step 2: Calculate the new profit sharing ratio
The new profit sharing ratio is given as 1:1:1. Since there are three partners, the ratio will be divided equally among them.
Therefore, the new profit sharing ratio for A, B, and C is 1/3:1/3:1/3 or 1:1:1.
Step 3: Calculate the share of goodwill
The goodwill brought in by C is Rs. 10,000. This amount needs to be shared by A and B in their old profit sharing ratio of 3:2.
Let the share of goodwill for A be x. Therefore, the share of goodwill for B will be (10,000 - x).
According to the old profit sharing ratio of A and B (3:2), the equation can be formed as:
3x = 2(10,000 - x)
3x = 20,000 - 2x
5x = 20,000
x = 4,000
Therefore, the share of goodwill for A is Rs. 4,000 and the share of goodwill for B is (10,000 - 4,000) = Rs. 6,000.
Step 4: Calculate the ratio of sharing the amount
The amount of Rs. 10,000 will be shared in the ratio of the old profit sharing ratio of A and B, which is 3:2.
Let the share of A be x. Therefore, the share of B will be (10,000 - x).
According to the old profit sharing ratio of A and B (3:2), the equation can be formed as:
3x = 2(10,000 - x)
3x = 20,000 - 2x
5x = 20,000
x = 4,000
Therefore, the share of A is Rs. 8,000 and the share of B is (10,000 - 8,000) = Rs. 2,000.
Hence, the ratio in which the amount will be shared among the old partners A and B is 8,000:2,000, which is option 'A'.
Given:
- A and B are partners sharing the profit in the ratio of 3:2.
- C is the new partner who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill.
- The new profit sharing ratio is 1:1:1.
Step 1: Calculate the new total capital
The total capital after the admission of C can be calculated by adding the capital brought in by C to the existing capital of A and B.
Total capital = Capital of A + Capital of B + Capital of C
= Rs. 0 + Rs. 0 + Rs. 25,000
= Rs. 25,000
Step 2: Calculate the new profit sharing ratio
The new profit sharing ratio is given as 1:1:1. Since there are three partners, the ratio will be divided equally among them.
Therefore, the new profit sharing ratio for A, B, and C is 1/3:1/3:1/3 or 1:1:1.
Step 3: Calculate the share of goodwill
The goodwill brought in by C is Rs. 10,000. This amount needs to be shared by A and B in their old profit sharing ratio of 3:2.
Let the share of goodwill for A be x. Therefore, the share of goodwill for B will be (10,000 - x).
According to the old profit sharing ratio of A and B (3:2), the equation can be formed as:
3x = 2(10,000 - x)
3x = 20,000 - 2x
5x = 20,000
x = 4,000
Therefore, the share of goodwill for A is Rs. 4,000 and the share of goodwill for B is (10,000 - 4,000) = Rs. 6,000.
Step 4: Calculate the ratio of sharing the amount
The amount of Rs. 10,000 will be shared in the ratio of the old profit sharing ratio of A and B, which is 3:2.
Let the share of A be x. Therefore, the share of B will be (10,000 - x).
According to the old profit sharing ratio of A and B (3:2), the equation can be formed as:
3x = 2(10,000 - x)
3x = 20,000 - 2x
5x = 20,000
x = 4,000
Therefore, the share of A is Rs. 8,000 and the share of B is (10,000 - 8,000) = Rs. 2,000.
Hence, the ratio in which the amount will be shared among the old partners A and B is 8,000:2,000, which is option 'A'.
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A and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct answer is option 'A'. Can you explain this answer?
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A and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct 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 and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct 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 and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct answer is option 'A'. Can you explain this answer?.
A and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct 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 and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct 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 and B are partners sharing the profit in the ratio of 3:2. They take C as the new partner, who brings in Rs. 25,000 against capital and Rs. 10,000 against goodwill. New profit sharing ratio is 1:1:1. In what ratio will this amount will be shared among the old partners A & B.a)8,000:2,000.b)5,000:5,000.c)Old partners will not get any share in the goodwill bought in by C.d)6,000:4,000.Correct answer is option 'A'. Can you explain this answer?.
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