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12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    A and B are partners sharing profits in the ratio of 3:2. They decided to admit C as a new partner on 1st Apr. 2021 and profit sharing ratio becomes 3:1:1. C brought 1,20,000 as his capital. On 31 Mar. 2021 their capitals were A 1,50,000 and B 1,00,000. On the date of C's admission balance sheet shows Profit and Loss (Cr) balance 30,000. C's share of goodwill will be :

    A) 2,00,000 

    B) 40,000

    C) 1,20,000

    D) 80,000

    Correct Answer: B

    Solution :

    40,000


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