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

  • question_answer
    X and Y are partners in a firm with capital of Rs. 1,80,000 and Rs. 2,00,000. Z was admitted for 1/3rd share in profits and brings Rs. 3,40,000 as capital, calculate the amount of goodwill.

    A) Rs. 2,40,000      

    B) Rs. 1,00,000

    C) Rs. 1,50,000    

    D) Rs. 3,00,000

    Correct Answer: D

    Solution :

    [d] Rs. 3,00,000
    Hint: Firm's capital based on Z's capital= 3,40,000 \[\times \frac{3}{1}\]  = Rs. 10,20,000
    (-) X's Capital       1,80,000
    Y's Capital            2,00,000
    Z's Capital            3,40,000      = (7,20,000)
    Value of goodwill of firm          =  3,00,000
     


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