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
Correct Answer: Debited by Rs 1,00,000
Solution : Answer = Debited by Rs 1,00,000
Total Goodwill of the firm was valued at = 6,00,000 = 6,00,000 × 5/12 = 50,000 × 5 = 2,50,000
G.Ratio = N.R. - O. R.
A= $\frac{1}{3}- \frac{5}{12} = \frac{12-15}{36} = \frac{-3}{36}\times 6,00,000 = 50,000$
C = $\frac{1}{3}- \frac{2}{12} = \frac{12-6}{36} = \frac{6}{36}\times 6,00,000 = 10,000$
D = $\frac{1}{3}- \frac{2}{12} = \frac{12-6}{36} = \frac{6}{36}\times 6,00,000 = 10,000$
D's Capital Account will be Debited = 1,00,000
C's Capital will be Debited by 1,00,000 Hence, the correct option is 4.
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. D’s capital account will be ----
Option 3: Debited by Rs 1,50,000
Question : A, B, C and D were partners sharing profits in the ratio of 5 : 3 :2 :2. B died on 1st March, 2018. Goodwill of the firm was valued at Rs. 6,00,000. A, C and D decided to share future profits equally. Q. B’s capital account will be -------
Option 2: Credited by Rs 1,00,000
Option 4: None of the above
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.
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.
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