Question : A, B, C and D were partners sharing profits in the ratio of 5: 3: 2: 2. B died on 1st March 2018. The goodwill of the firm was valued at Rs. 6,00,000. A, C and D decided to share future profits equally.
Option 1: Debit C and D by Rs. 1,00,000 each and Credit A by Rs.50,000 and B by Rs. 1,50,000.
Option 2: Debit C and D by Rs. 50,000 each and Credit A by Rs.50,000 and B by Rs. 50,000
Option 3: Debit A and B by Rs. 1,00,000 each and Credit C by Rs.50,000 and B by Rs. 1,50,000.
Option 4: None of the above.
Correct Answer: Debit C and D by Rs. 1,00,000 each and Credit A by Rs.50,000 and B by Rs. 1,50,000.
Solution : Answer = Debit C and D by Rs. 1,00,000 each and Credit A by Rs.50,000 and B by Rs. 1,50,000. G.R= N.R- O.R A=$\frac{1}{3}-\frac{5}{12}=\frac{4-5}{12}=\frac{-1}{12}$= Sacrifice× 6,00,000. C= $\frac{1}{3}-\frac{2}{12}=\frac{4-2}{12}=\frac{2}{12}$= Gain D= $\frac{1}{3}-\frac{2}{12}=\frac{4-2}{12}=\frac{2}{12}$= Gain C's capital a/c Dr 1,00,000 D's capital a/c Dr 1,00,000 To B's capital a/c 1,50,000 To A's capital a/c 50,000 Hence, the correct option is 1.
Question : A, B, C and D were partners sharing profits in the ratio of 5:3:2:2. B died on 1st March 2018. The goodwill of the firm was valued at Rs. 6,00,000. A, C and D decided to share future profits equally. Q. A's capital account will be --------
Option 1: Credited by Rs 50,000
Option 2: Debited by Rs 1,00,000
Option 3: Credited by Rs 1,00,000
Option 4: Debited by Rs 50,000
Question : A, B, C and D were partners sharing profits in the ratio of 5:3:2:2. B died on 1st March 2018. The goodwill of the firm was valued at Rs. 6,00,000. A, C and D decided to share future profits equally. Q. C’s capital account will be ----
Option 1: Debited by Rs 50,000
Option 2: Credited by Rs 1,50,000
Option 3: Debited by Rs 1,50,00
Option 4: Debited by Rs 1,00,000
Question : A, B, C and D are partners sharing profits in the ratio of 3: 4: 3: 2, On the retirement of C, the goodwill was valued at Rs. 6,00,000. A, B and D decided to share future profits equally. C's capital account will be ....
Option 1: Debited by 1,50,000
Option 3: Debited by Rs 6,00,000
Option 4: Credited by Rs 6,00,000
Question :
A, B, C and D were partners sharing profits in the ratio of 5:3:2:2. B died on 1st March 2018. The goodwill of the firm was valued at Rs. 6,00,000. A, C and D decided to share future profits equally. Q. D’s capital account will be ----
Option 3: Debited by Rs 1,50,000
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