Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

A and B are partners having their adjusted Capital balances 1,28,000 and 72,000 respectively and on that date, they admit C as a new partner for equal share. C brings necessary amount as his share of capital. Calculate C's capital.

Options:

₹80,000

₹3,00,000

₹1,00,000

₹1,20,000

Correct Answer:

₹1,00,000

Explanation:

The correct answer is Option (3) - ₹1,00,000.

A and B adjusted Capital balances 1,28,000 and 72,000
Total capital = 200000 of A and B.

C admits with equal share means now all three partners share profits in equal ratio  i.e. 1:1:1
A and B have capital of ₹200000 for their share. So C will have 100000 as capital.