A, B and C are the partners sharing profits and losses in the ratio of

1.	A, B and C are the partners sharing profits and losses in the ratio of 5:3:2. C retired and his capital balance after adjustments regarding Reserves, Accumulated profits/ losses and gain/loss on revaluation was Rs.2,50,000. C was paid Rs.3,00,000 in full settlement. Afterwards D was admitted for 1/4th share . Calculate the amount of goodwill premium brought by D.
Answer» Goodwill share of C = Rs. 3,00,000 - Rs. 2,50,000 = Rs. 50,000 Firm’s Goodwill= 50,000 x 10/2= Rs.2,50,000 D’s share in Goodwill= Rs. 2,50,000 x 1/4= Rs.62,500

A, B and C are the partners sharing profits and losses in the ratio of 5:3:2. C retired and his capital balance after adjustments regarding Reserves, Accumulated profits/ losses and gain/loss on revaluation was Rs.2,50,000. C was paid Rs.3,00,000 in full settlement. Afterwards D was admitted for 1/4th share . Calculate the amount of goodwill premium brought by D.

Answer»

Goodwill share of C = Rs. 3,00,000 - Rs. 2,50,000 = Rs. 50,000

Firm’s Goodwill= 50,000 x 10/2= Rs.2,50,000

D’s share in Goodwill= Rs. 2,50,000 x 1/4= Rs.62,500

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