Practicing Success
Read of the following case study and answer question. Deepali, Nimisha and Sonam were partners in a firm sharing profits in the ratio of 5 : 3 : 2. Nimisha retired and the new profit sharing ratio between Deepali and Sonam was 2 : 3, On Nimisha's retirement, the goodwill of the firm was valued at ₹1,20,000. |
If information provided in the case study is used, the sacrifice or gain of Sonam share of goodwill will be : |
₹12,000 sacrifice ₹24,000 gain ₹36,000 sacrifice ₹48,000 gain |
₹48,000 gain |
The correct answer is option (4) : ₹48,000 gain. Sonam sacrifice = Old share -New share As this 4/10 is negative means Sonam gains by 4/10. Goodwill of firm = 1,20,000 |