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Vinay and Naman are partners sharing profits in the ratio of 4:1. Their capitals were ` 90,000 and ` 70, 000 respectively. They admitted Prateek for 13 share in the profits. Prateek brought proportionate amount of capital. Calculate Prateek’s capital. |
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Answer» PRATEEK's share=1/3, Prateek's Capital = Rs. 1,00,000. A. Bassed on Prateek's Capital, Total Capital of the FIRM will be B. Total existing capital of Vinay, NAMAN and Prateek = Rs. 90,000 + Rs. 70,000 + Rs. 1,00,000=Rs.2,60,000. C. Value of Firm's GOODWILL (A-B) = Rs.3,00,000-Rs.2,60,000=Rs.40,000. |
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