Target Exam

CUET

Subject

Accountancy Part A

Chapter

Admission of a Partner

Question:

Anita and Barun are partners sharing profits equally with capitals of Rs. 45,000 each. They admitted Chirag as a new partner for 1/3rd share in the profit. On the day of admission, profit and loss account in the balance sheet shows a debit balance of Rs 30,000. Chirag brings in Rs. 60,000 as his capital. What will be the amount of goodwill brought by Chirag?

Options:

Rs 20,000

Rs 10,000

Rs 60,000

Rs 30,000

Correct Answer:

Rs 20,000

Explanation:

The correct answer is Option (1) → 

Rs 20,000