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A little help on “Goodwill Calculation procedure” will be a big HELPPP indeed.

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s.lohani (Querist)
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31 October 2007 I know somewhat abt how to calc. goodwill when capital is given; but not the other way round. Please help:

Q49
Ramesh and Suresh are partners sharing profits and losses in 2/3 and 1/3, Their capitals as on Dec 31,2004 were Rs 1,02,900 and Rs 73 ,500 respectively. Mohan was admitted into the partnership on January 1, 2005 for 1/5 share. He contributes Rs 15210 as capital. He brings his capital in profit sharing ratio. Capital amt will be :

a) 47902.5 b) 47000 c) 450000 d) none (How)

A little more advise on this wud be highly appreciated
Anwar LTD purchased building woth 99 lakh and issued 12% debentures of Rs 100 each at a premium of 10% . Premium amt will be
a) 9 lakh b) 8 lakh c07 lakh d) 10 lakh (How)

KAAPIL

KAAPIL (Expert)
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31 October 2007 Case II
A will issue debentures of Rs. 90 lakhs and 10% of it is Rs. 9 lakhs i.e. premium. Thus Rs. 99 lakhs.

Case I

There is some error in the amount of capital you have stated. Please throw light.

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