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A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?
- a)Rs. 55,000.
- b)Rs. 35,000.
- c)Rs. 20,000.
- d)Rs. 15,000
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respec...
Calculation of Goodwill:
- A's capital = Rs. 50,000
- B's capital = Rs. 40,000
- Total capital before admission of C = Rs. 90,000
- Goodwill in balance sheet = Rs. 20,000
- Goodwill revalued at Rs. 35,000
- Goodwill increase = Rs. 35,000 - Rs. 20,000 = Rs. 15,000
Effect of C's admission:
- C's capital = Rs. 50,000
- Total capital after C's admission = Rs. 1,40,000 (Rs. 90,000 + Rs. 50,000)
- A and B still have equal share in profits and losses
- C will also have equal share in profits and losses
Calculation of new Goodwill:
- Goodwill increase = Rs. 15,000
- Goodwill to be shared by 3 partners now
- New goodwill for each partner = Rs. 15,000 / 3 = Rs. 5,000
- Total goodwill in books after C's admission = Rs. 35,000 (Rs. 20,000 + Rs. 15,000)
Therefore, the correct answer is option B, Rs. 35,000.
- A's capital = Rs. 50,000
- B's capital = Rs. 40,000
- Total capital before admission of C = Rs. 90,000
- Goodwill in balance sheet = Rs. 20,000
- Goodwill revalued at Rs. 35,000
- Goodwill increase = Rs. 35,000 - Rs. 20,000 = Rs. 15,000
Effect of C's admission:
- C's capital = Rs. 50,000
- Total capital after C's admission = Rs. 1,40,000 (Rs. 90,000 + Rs. 50,000)
- A and B still have equal share in profits and losses
- C will also have equal share in profits and losses
Calculation of new Goodwill:
- Goodwill increase = Rs. 15,000
- Goodwill to be shared by 3 partners now
- New goodwill for each partner = Rs. 15,000 / 3 = Rs. 5,000
- Total goodwill in books after C's admission = Rs. 35,000 (Rs. 20,000 + Rs. 15,000)
Therefore, the correct answer is option B, Rs. 35,000.
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A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respec...
Option will be B. Because in this question it is asked that tell the value of goodwill in the books after revaluation. Every assets after revaluation is to be shown in the books at its revalued figure.
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A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer?
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A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. 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 with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. 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 with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer?.
A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. 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 with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. 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 with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer?.
Solutions for A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer?, a detailed solution for A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A and B are partners with the capital Rs. 50,000 and Rs. 40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 20,000 is revalued as Rs. 35,000. What will be value of goodwill in the books after the admission of C?a)Rs. 55,000.b)Rs. 35,000.c)Rs. 20,000.d)Rs. 15,000Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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