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  • 1 answers

Avika Gupta an hour ago

Plant a/c Dr. 2800000 To Gujarat Ltd. 2800000 Gujarat Ltd. A/c Dr. 2710000 Discount on issue of debentures a/c Dr . 90000 To deb a/c 900000 To share capital a/c 1000000 To SPR a/c 100000 To bank a/c 800000
  • 1 answers

Khushi Varshney 21 hours ago

IF NO OTHER INFORMATION IS GIVEN LIKE CALLED UP AMOUNT ON SHARES AND IT IS ASSUMED TO BE FULLY PAID UP THEN THIS QUESTION WILL BE WRONG AS THE DISCOUNT ON REISSUE OF SHARES CANNOT EXCEED THE AMOUNT RECEIVED ON FORFEITED SHARES.
  • 1 answers

Ashok Gaur 1 day, 19 hours ago

From the new goodwill of the firm the partner is entitled at the time of retirement.
  • 0 answers
  • 1 answers

Suraj Kumar 1 day, 23 hours ago

The ratio between X and Y is 5:3. Hence, the ratio between Y and Z should also be the same i.e., 5:3 (or Y5/8,Z3/8). Thus, If the ratio of Y is 5, the ratio of Z should be =3 If the ratio of Y is 3/8, the ratio of Z should be =3/5 × 3/8 =9/40 New Profit sharing Ratio= 5/8:3/8:9/40=25:15:9/40 or 25:15:9 Calculation of Sacrificing Ratio Sacrificing Ratio=Old Share - New Share X's Sacrifice = 5/8 - 25/49 = 45/392;. Y's Sacrifice = 3/8 -15/49 = 27/392 Sacrificing Ratio of X and Y = 45/392 : 27/392 = 45:27 or 5:3
  • 1 answers

Sia 🤖 2 days, 5 hours ago

You can check NCERT Solutions here : https://mycbseguide.com/ncert-solutions.html

  • 3 answers

Vansh Sharma 19 hours ago

Pls complete the question ☺️🙂

Mohd Muzammil 1 day, 19 hours ago

1:1

Anoop Gupta 2 days, 20 hours ago

Question pura kro ya page no. Btao
  • 3 answers

Vansh Sharma 18 hours ago

Not-for-profits organisation

Karankumar Chandel 2 days, 20 hours ago

Incurs means

Harshit Mishra 2 days, 20 hours ago

This chapter is from accountancy book park 2 Name : non profit organisation
  • 2 answers

Harsh Rana 1 day, 21 hours ago

Tell me why you divide 72000 by 2

Harshit Mishra 2 days, 20 hours ago

Application money recived per share is Rs. 2 and the total money recived is 72000 so devide 72000 by 2 i.e. 36000 therefore the shares are oversubscribed by 6000 because the company has issued only 30000 shares for subscription Now if we go further the company has two options that is i) they can reject the applications for 6000 shares or ii) they can be alloted on the pro rata bassis
  • 1 answers

Ayush Raj 3 days, 2 hours ago

Because wage is given at point of time and salary is given at period of time
  • 3 answers

Limelight * 2 days, 5 hours ago

Ratio of old partners -sacrifice ratio

Naveen Pandey 2 days, 7 hours ago

Old ratio New partner's share Total share which is always 1 Now 1-new partner share which is remaining share Now : Old×remaining share(by this you got new psr of axisting partner) New ratio of partner

Ritesh Kumar 2 days, 23 hours ago

Old ratio - sacrificed ratio or old ratio +gaining ratio
  • 2 answers

Anoop Gupta 2 days, 19 hours ago

Koi bhi pen mt leke jaana exam me tab pta chlega

Aradhya Agarwal 3 days, 23 hours ago

Bhai to question ma bachenga ho kya Without adjustment the question is lol
  • 3 answers

Himanshu Jha 4 days, 3 hours ago

Image result for cbse 2020 exam date

Himanshu Jha 4 days, 3 hours ago

Media posted by CBSE HQ #cbse joins the nation to celebrate 73rd

Gaurav Seth 4 days, 8 hours ago

Hidden Goodwill means the value of goodwill that is not specified at the time of admission of a partner. If the new partner requires to bring the share of goodwill, then, in this case, we have to calculate the value of the firm’s goodwill.

Sometimes the value of goodwill is not given at the time of admission of a new partner. in that case the goodwill is calculated with the help of total capital/net worth of the firm and profit sharing ratio.

Hidden goodwill

When the value of goodwill is not given in the question, it has to be calculated on the basis of total capital/net worth of the firm and profit sharing ratio.
 


 

Illustration 8

X and Y are partners with capitals of ₹ 10,000 each. They admit Z as a partner for 1/4th share in the profits of the firm. Z brings ₹ 16,000 as his share of capital.
 

The Profit and Loss account showed a credit balance of ₹ 8,000 as on the date of admission of Z. Give the necessary journal entry to record goodwill.
 



Working Note :-

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Therefore, Hidden Goodwill =

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  • 2 answers

Miss Mor 4 days, 19 hours ago

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Miss Mor 5 days, 1 hour ago

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.
  • Don't post personal information, mobile numbers and other details.
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  • Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
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  • 2 answers

Aditi Thakur 4 days, 22 hours ago

D.K Goel

Himanshu Jha 5 days, 5 hours ago

Which book ?
  • 4 answers

Vaibhav Kamboj 2 days, 11 hours ago

Income ( cr) side

Lovely Dhawan 4 days, 19 hours ago

It is the income of recurring nature...so it is a revenue receipt

Wasim Shaikh 4 days, 23 hours ago

Income Credit side

Limelight * 5 days, 5 hours ago

Income (cr.) Side Of course
  • 1 answers

Its Me Pandit 5 days, 14 hours ago

Accounting standard-26 or AS-26 prescribes that self generated goodwill is not accounted as an asset so it will not be recorded in book of account.
  • 1 answers

Himanshu Jha 5 days, 20 hours ago

Profit sharing ratio and goodwill treatment ,
  • 2 answers

Lovely Dhawan 4 days, 19 hours ago

Anything which is in the possession or property of the business is called an asset

Sia 🤖 6 days, 4 hours ago

An asset is any resource owned by the business.

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