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.
Workmen Compensation Fund = ₹5,00,000.
Claim against workmen compensation = ₹2,00,000.
Excess of fund after claim is = 5,00,000 -2,00,000
= ₹3,00,000
This will be distributed in old ratio.
Amrita's share = 3,00,000 x 3/5
= ₹1,80,000