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Rohan & Sohan are partners in a firm sharing profits & losses in the ratio of 3 : 1. A partner Mohan is admitted and he brought Rs.40,000 as goodwill. New profit sharing ratio of all the partners is equal. The amount of goodwill to be shared by old partners is
  • a)
    Equally Rs.20,000 each
  • b)
    Rohan Rs.30,000 & Sohan Rs.10,000
  • c)
    Rohan Rs.40,000
  • d)
    Rohan received Rs.50,000 & Sohan paid Rs.10,000
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Rohan & Sohan are partners in a firm sharing profits & losses ...
Calculation of New Profit Sharing Ratio
- Before Mohan's admission, profit sharing ratio of Rohan and Sohan was 3:1.
- Mohan is admitted and the new profit sharing ratio is equal for all partners.
- Let x be the new profit sharing ratio for each partner.
- Total profit sharing ratio = 3 + 1 + x = 4 + x
- As the new profit sharing ratio is equal for all partners, we have:
4 + x = 3x
2x = 4
x = 2

Calculation of Goodwill
- Mohan brings Rs.40,000 as goodwill.
- Total goodwill = Rs.40,000
- New partner Mohan is not entitled to any share of goodwill.
- Goodwill is shared only by the old partners Rohan and Sohan.
- Let the amount of goodwill to be shared by old partners be y.

Calculation of Share of Profits
- After Mohan's admission, the profit of the firm is shared in the ratio of 2:2:2 among Rohan, Sohan and Mohan.
- Let the total profit of the firm be z.
- Share of Rohan = 2/6 * z = z/3
- Share of Sohan = 2/6 * z = z/3
- Share of Mohan = 2/6 * z = z/3

Calculation of Goodwill Sharing
- The total share of Rohan and Sohan in the profit is z/3 + z/3 = 2z/3.
- The total amount of goodwill to be shared by Rohan and Sohan is y.
- As the new profit sharing ratio is equal for all partners, we have:
Rohan's share of goodwill / Sohan's share of goodwill = 3/1
Rohan's share of goodwill + Sohan's share of goodwill = y
- Solving these equations, we get:
Rohan's share of goodwill = Rs.50,000
Sohan's share of goodwill = Rs.10,000

Therefore, option D, "Rohan received Rs.50,000, Sohan paid Rs.10,000" is the correct answer.
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Community Answer
Rohan & Sohan are partners in a firm sharing profits & losses ...
It will distribute in sacrificing ratio i.e old ratio- new ratio
Rohan share=3/4-1/3= 5/12
Sohan share=1/4-1/3= -1/12

So Rohan will get full amt of Mohan and he will also get from Sohan ₹10000
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Rohan & Sohan are partners in a firm sharing profits & losses in the ratio of 3 : 1. A partner Mohan is admitted and he brought Rs.40,000 as goodwill. New profit sharing ratio of all the partners is equal. The amount of goodwill to be shared by old partners isa)Equally Rs.20,000 eachb)Rohan Rs.30,000 & Sohan Rs.10,000c)Rohan Rs.40,000d)Rohan received Rs.50,000 & Sohan paid Rs.10,000Correct answer is option 'D'. Can you explain this answer?
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Rohan & Sohan are partners in a firm sharing profits & losses in the ratio of 3 : 1. A partner Mohan is admitted and he brought Rs.40,000 as goodwill. New profit sharing ratio of all the partners is equal. The amount of goodwill to be shared by old partners isa)Equally Rs.20,000 eachb)Rohan Rs.30,000 & Sohan Rs.10,000c)Rohan Rs.40,000d)Rohan received Rs.50,000 & Sohan paid Rs.10,000Correct answer is option 'D'. 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 Rohan & Sohan are partners in a firm sharing profits & losses in the ratio of 3 : 1. A partner Mohan is admitted and he brought Rs.40,000 as goodwill. New profit sharing ratio of all the partners is equal. The amount of goodwill to be shared by old partners isa)Equally Rs.20,000 eachb)Rohan Rs.30,000 & Sohan Rs.10,000c)Rohan Rs.40,000d)Rohan received Rs.50,000 & Sohan paid Rs.10,000Correct answer is option 'D'. 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 Rohan & Sohan are partners in a firm sharing profits & losses in the ratio of 3 : 1. A partner Mohan is admitted and he brought Rs.40,000 as goodwill. New profit sharing ratio of all the partners is equal. The amount of goodwill to be shared by old partners isa)Equally Rs.20,000 eachb)Rohan Rs.30,000 & Sohan Rs.10,000c)Rohan Rs.40,000d)Rohan received Rs.50,000 & Sohan paid Rs.10,000Correct answer is option 'D'. Can you explain this answer?.
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