Question:
P, Q and R are Partners sharing Profits and losses equally. R retires and Goodwill is appearing in the books at ₹ 30,000. Goodwll of the firm is valued at ₹ 1,50,000. Calculate the net amount to be credited to R's Capital A/c for adjustment of goodwill:
P, Q and R are Partners sharing Profits and losses equally. R retires and Goodwill is appearing in the books at ₹ 30,000. Goodwll of the firm is valued at ₹ 1,50,000. Calculate the net amount to be credited to R's Capital A/c for adjustment of goodwill:
Updated On: Sep 19, 2024
- ₹ 60,000
- ₹ 50,000
- ₹ 40,000
- ₹ 10,000
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The Correct Option is C
Solution and Explanation
The correct option is (C) :₹ 40,000.
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Top Questions on Goodwill
- Identify the correct sequence to be followed at the time of Death of Partner :
A. Calculation of gaining Ratio.
B. Treatment of goodwill
C. Calculation of new Profit Ratio
D. Calculation of Amount transferred to Decreased Partner's Executor
E. Preparation of deceased Partner Capital Account
Choose the correct answer from the options given below : - The sum due to the retiring Partners includes :-
A. Share of remaining partners goodwill.
B. Credit balance of his capital Account.
C. His share of accumulated profits.
D. His share of Goodwill.
E. Cash brought in by remaining partners for adjustment of capital.
Choose the correct answer from the options given below :
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