Anju and Bhawna are partners in a firm sharing profits in the ratio of 9/12 and 5/20. Chetna was admitted for 7/35 share and she could not bring her share of goodwill in cash. Goodwill of firm is valued at Rs. 50,000. Journalise:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Chetna’s Current A/c is debited with Rs. 10,000, and Anju’s Capital A/c is credited with Rs. 7,500 and Bhawna’s Capital A/c with Rs. 2,500
When the new partner cannot bring her share of goodwill in cash, her own account is debited with it and the old partners are credited in their sacrificing ratio.
Chetna’s share of goodwill = 7/35 × Rs. 50,000 = Rs. 10,000
Old ratio = 9/12 : 5/20 = 3/4 : 1/4 = 3 : 1
No other information is given, so she takes her share from them in the old ratio; sacrificing ratio = 3 : 1
Anju = 3/4 × Rs. 10,000 = Rs. 7,500
Bhawna = 1/4 × Rs. 10,000 = Rs. 2,500
Chetna’s Current A/c Dr. 10,000
To Anju’s Capital A/c 7,500
To Bhawna’s Capital A/c 2,500
NCERT (2026-27 edition): |