Practicing Success
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:
Workmen Compensation Fund ₹5,00,000. Claim against workmen compensation is ₹2,00,000 and goodwill appeared in the books at ₹60,000. |
Share of revaluation profit of Amrita and Kalyani is: |
₹2400000 and ₹1600000 ₹1600000 and ₹2400000 ₹800000 and ₹3200000 ₹2000000 and ₹2000000 |
₹2400000 and ₹1600000 |
Amrita and Kalyani shares this revaluation profits in the ratio of 3:2. |