P, Q and R share profits equally. At the time of P's retirement, goodwill appears in the books at ₹3,000. P will be debited with...... amount for Goodwill share.
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Rs. 1,000
Goodwill already in the books on retirement is written off among all the partners in their old profit sharing ratio, the retiring partner included.
Old ratio of P, Q and R = 1:1:1
P’s share of goodwill written off = Rs. 3,000 × 1/3
= Rs. 1,000
The whole Rs. 3,000 is not charged to P alone; Q and R are debited with Rs. 1,000 each as well.
NCERT (2026-27 edition):
NCERT (2026-27 edition):
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