Hem and Nem are partners in a firm Sharing Profits in the ratio of 3 : 2. Their Capitals were ₹80,000 and ₹50,000 respectively. They admitted Sam for 1/5 share and he brought ₹60,000 as his Capital. Goodwill of the firm will be:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → ₹1,10,000
When goodwill is not given, it is inferred from the new partner’s capital and share: his capital fixes the total capital the firm should have, and the gap between that and the actual capitals is hidden goodwill.
Total capital of the firm = ₹60,000 × 5/1 = ₹3,00,000
Actual capitals = ₹80,000 + ₹50,000 + ₹60,000 = ₹1,90,000
Goodwill of the firm = ₹3,00,000 − ₹1,90,000 = ₹1,10,000
NCERT (2026-27 edition):
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