question_answer

Match the followings : X and Y are partners sharing profit in the ratio of 7:3 with a capital of Rs. 2,00,000 each. They admitted Z a new partner and new profit sharing ratio between X, Y and Z is 5:2:3. Z has paid Rs. 1,20,000 for his capital and Rs. 60,000 premium for goodwill. Find out the capital balance of each partner:

1.	Workmen compensation reserve = 30000; Workmen compensation claim is estimated = 50000 and accepted by the firm	(A)	X = 2,40,000
			Y = 2,20,000
			Z = 1,20,000
2.	Investment fluctuation reserve = 10000; Current investment 40000 (Market value 25000)	(B)	X = 2,26,000
			Y = 2,14,000
			Z = 1,20,000
3.	General reserve = 30000 (Partners do not want to distribute)	(C)	X = 2,36,500
			Y = 2,18,500
			Z = 1,20,000
4.	Employee Provident Fund = 30000	(D)	X = 2,46,000
			Y = 2,23,000
			Z = 1,11,000

 

A) 1-[B]; 2-[C]; 3-[D]; 4-[A]

B) 1-[B]; 2-[C]; 3-[A]; 4-[D]

C) 1-[C]; 2-[A]; 3-[D]; 4-[B] 

D) 1-[C], 2-[D]; 3-[A]; 4-[B]