fudamentals of accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2011
A and B are partners sharing profits and in the ratio 3:2. they take C as a new partner who is supposed to bring Rs. 25000 against capital and Rs. 10000 against goodwill. New profit sharing ratio is 1:1:1.C is able to bring only his share of capital. How this will be treated in the books of the firm?
(a) A and B will share the goodwill brought by C as 4000:1000.
(b) Goodwill not brought will be adjusted to the extent of Rs. 30,000 in old profit sharing ratio.
(c) Both.
(d) None.
(PLEASE explain in detail.)
(a) A and B will share the goodwill brought by C as 4000:1000.
(b) Goodwill not brought will be adjusted to the extent of Rs. 30,000 in old profit sharing ratio.
(c) Both.
(d) None.
(PLEASE explain in detail.)
CA Harish Suwalka
(Expert)
22 June 2011
A they will share the goodwill in 4:1 (sec ratio),
goodwill will be adjusted from cap a/c of C
goodwill will be adjusted from cap a/c of C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
