Based on following, answer the question.
Amrita and Kalyani are partners sharing profits in the ratio of 3:2. They decided to expand the business by admitting Suraj as new partner for 1/4th share. Suraj's share of goodwill is valued at ₹90,000 for which he compensated Amrita and Kalyani in the ratio of 1:4. Following information is also provided:
| Particulars | Book value (₹) | Revalued figure (₹) |
| Machinery | 25,00,000 | 27,00,000 |
| Land | 10,00,000 | 50,00,000 |
| Computers | 2,50,000 | 50,000 |
Workmen Compensation Fund ₹5,00,000. Claim against workmen compensation is ₹2,00,000 and goodwill appeared in the books at ₹60,000.
What is Amrita's share in workmen's compensation fund?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → ₹1,80,000
The Workmen Compensation Fund is kept to meet claims of workers. The part needed for the claim stays as a liability; only the excess is an accumulated profit, and it is credited to the old partners in the old ratio (3 : 2). The new partner gets no share of it.
Workmen Compensation Fund = ₹5,00,000
Less: Claim against it = ₹2,00,000
Excess to be distributed = ₹3,00,000
Amrita’s share = ₹3,00,000 × 3/5 = ₹1,80,000
NCERT (2026-27 edition): |