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Atul and neera were partner in …

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Atul and neera were partner in a firm sharing profit in the ratio 3:2 They admitted Miltali as a new partner. Goodwill premium of Rs 20,000 in cash which is entirely credited to atuls capital account. Calculate the new profit sharing ratio.

Posted by Vidya Tiwari 6 years, 3 months ago

CBSE > Class 12 > Accountancy

1 answers

Sia ? 6 years, 3 months ago

Firm's Goodwill = Rs. 2,00,000

Mitali brings goodwill = Rs. 20,000

So, Mitali's share in profit must be = {tex}\frac { 1 } { 10 }{/tex}
Entire premium for goodwill is credited to Atul

means Mitali got her share totally from Atul

So, Atul's new share = {tex}\frac { 3 } { 5 } - \frac { 1 } { 10 } = \frac { 5 } { 10 }{/tex}
Neera's share = {tex}\frac { 2 } { 5 }{/tex}
Mitali's share = {tex}\frac { 1 } { 10 }{/tex}
New ratio = 5 : 4 : 1

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