Answer the next 5 questions from the passage-
A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. D is admitted into the firm for 1/4th share in profits, which he gets as 1/8th from A and 1/8th from B. The total capital of the firm is agreed upon as ₹1,20,000 and D is to bring in cash equivalent to 1/4th of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and C after all adjustments are ₹40,000, ₹35,000 and ₹30,000 respectively.
C will withdraw the capital amount after capital are adjusted in the ratio of their respective shares in profits. The amount is-
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Rs. 10,000
C keeps his old share of 1/6, but the total capital is now divided among four partners, so his required capital is lower than what he has. The surplus is withdrawn.
New ratio = 9:5:4:6, so C’s required capital = Rs. 1,20,000 × 4/24 = Rs. 20,000
C’s capital after all adjustments = Rs. 30,000
Surplus = Rs. 30,000 − Rs. 20,000 = Rs. 10,000, withdrawn by C
Entry: C’s Capital A/c Dr. Rs. 10,000 to Cash A/c Rs. 10,000. B too withdraws Rs. 10,000 (Rs. 35,000 − Rs. 25,000), while A brings in Rs. 5,000.
NCERT (2026-27 edition):
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