Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

A and B are partners in a firm having capital balances of Rs 54,000 and Rs 36,000 respectively. They admit C in partnership for 1/3rd share and C is to bring proportionate amount of capital. What will be the capital amount of C?

Options:

₹90000

₹45000

₹54000

₹36000

Correct Answer:

₹45000

Explanation:

Capital of Firm on the basis of A and B=54,000+36,000=90,000
C's Share=5/10*90,000=Rs 45,000
Alternatively, Total capital of firm on basis of A and B=90000*3/2=1,35,000
C share=135000*1/3=45,000