K, N and P are partners sharing profits and losses in the ratio of 4:3:2. N retires and the goodwill is valued at ₹72,000. K and P decided to share future profits and losses in the ratio of 5:3. Find which of the following is not correct?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → N Capital A/c is debited with Rs. 24,000
N’s share of goodwill is paid to him by K and P, the partners who gain his share, in their gaining ratio. N receives the amount, so his capital account is credited; the gainers’ accounts are debited.
N’s share of goodwill = Rs. 72,000 × 3/9 = Rs. 24,000
K’s gain = 5/8 − 4/9 = 45/72 − 32/72 = 13/72
P’s gain = 3/8 − 2/9 = 27/72 − 16/72 = 11/72
Gaining ratio = 13:11
K’s Capital A/c debited = Rs. 24,000 × 13/24 = Rs. 13,000
P’s Capital A/c debited = Rs. 24,000 × 11/24 = Rs. 11,000
K’s Capital A/c Dr. 13,000
P’s Capital A/c Dr. 11,000
To N’s Capital A/c 24,000
NCERT (2026-27 edition):
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