Aman, Daman and Lata are partners with profit sharing ratio of 3 : 2 : 1. Daman retired after making all adjustments relating to revaluation, goodwill and reserves etc. The balance of their capitals were ₹1,60,000 and ₹80,000 respectively. It was decided to maintain capitals in their new profit sharing ratio. Calculate new capital of Aman.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) - ₹ 1,80,000.
Old ratio =3 : 2 : 1 (Aman, Daman and Lata)
Daman retired.
As no other information like gaining ratio is given so old ratio becomes new ratio.
New ratio = 3:1
The balance of their capitals were ₹1,60,000 (Aman) and ₹80,000 (Lata).
Total capital on this base = 1,60,000 + 80,000
= 2,40,000
Aman's new capital = 2,40,000 x 3/4
= 1,80,000