Practicing Success
On the basis of the information given answer the question below : Akhil, Karan and Sakshi are partners sharing profits in the ratio 5 : 3 : 2. Goodwill already appear in the books ₹60,000. Karan decided to retire from the firm. Goodwill of the firm was valued at ₹2,40,000. Existing partners decided to share profits in the ratio 3 : 2. |
Amount of existing goodwill debited to Akhil's capital account is: |
₹18,000 ₹12,000 ₹30,000 ₹21,000 |
₹30,000 |
The correct answer is Option (3) - ₹30,000. Existing goodwill is distributed in old ratio between old partners. Existing goodwill = 60000 |