Vikas and Rahul are partners who shared profits in the ratio of 2 : 3. They admitted Sunil as a partner for 3/7th share in future profits who brings ₹37,500 as his share of Goodwill. Half of which is withdrawn by sacrificing partners. Record Journal entry for Goodwill withdrawn by Partners.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Vikas's Capital A/c Dr 7,500 / Rahul's Capital A/c Dr 11,250 / To Bank A/c 18,750
Sunil’s goodwill of ₹37,500 is first credited to the sacrificing partners. Since no other ratio is given, they sacrifice in their old ratio 2 : 3. When they withdraw part of it, their capital accounts are debited and Bank is credited.
Goodwill credited:
Vikas = ₹37,500 × 2/5 = ₹15,000
Rahul = ₹37,500 × 3/5 = ₹22,500
Half withdrawn:
Vikas = ₹15,000 × 1/2 = ₹7,500
Rahul = ₹22,500 × 1/2 = ₹11,250
Total = ₹18,750
NCERT (2026-27 edition):
NCERT (2026-27 edition):
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