Menu
Partnership
P and Q are partners sharing profits in the ratio of 2:1. R is admitted to the partnership with effect from 1st April on the term that he will bring Rs. 20000 as his capital for 1/4th share and pays Rs. 9000 for goodwill half of which is to be withdrawn by P and Q. how much cash can P and Q withdraw from the firm if any
Replies (2)
The new profit sharing ratio will be 2:1:1.the goodwill will be distributed in sacrificing ratio which comes out to be 2:1. Hence goodwill distributed will be 6000 and 3000. Each will draw half if it hence 3000 and 1500 by P and Q resp.
Thanks a lottt for teh immediate reply
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
