CPT accounts query

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Newly minted CA
1733 Points Joined July 2009

 Can anyone solve this. please state how to solve:

 

A & B are partners with capitals of Rs. 10,000 and Rs. 20,000 respectively and sharing profits equally. They admitted C as their third partner with one fourth share in profits of the firm on the payment of rs. 12,000. The amount of hidden goodwill is ____________

 

Please do state the method to solve 

THANKS in ADVANCE

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On 29 November 2009 at 13:06 Report
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Chartered Accountant
508 Points Joined February 2009
Ans is Rs. 6000 (12000 X 4) - (10000 +20000+12000) = 6000
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On 29 November 2009 at 13:46
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Newly minted CA
1733 Points Joined July 2009

thanks, sir 

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On 29 November 2009 at 14:06
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Risk Manager
2345 Points Joined April 2008

Based on C's share ,the capital of firm ought to be 12000 *4  = 48000.

Combined Cap of  A ,B,C = 10000+20000+12000 = 42000.

Hidden Goodwill = 48000-42000 = 6000.

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On 30 November 2009 at 22:21


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