Date | Particulars | LF | Amt (Dr) | Amt (Cr) | |
Bank A/c | Dr | .... | |||
To Premium for Goodwill A/c | .... | ||||
(........................) | |||||
Premium for Goodwill A/c | Dr | 1,20,000 | |||
Z's Current A/c | Dr | 3,30,000 | |||
To..... | .... | ||||
To..... | .... | ||||
(.......................) |
Answer:
JOURNAL
Working Note Calculation of New Profit Sharing Ratio X?s New Share\[=\frac{3}{5}-\frac{2}{10}=\frac{6-2}{10}=\frac{4}{10}\] Y?s New Share\[=\frac{2}{5}-\frac{1}{10}=\frac{4-1}{10}=\frac{3}{10}\] Z's New Share\[=\frac{2}{10}+\frac{1}{10}=\frac{2+1}{10}=\frac{3}{10}\] i.e. 4 : 3 : 3
Date
Particulars
LF
Amt (Dr)
Amt (Cr)
Bank A/c
Dr
1,20,000
To Premium for Goodwill A/c
1,20,000
(Being share of goodwill brought in by Z)
Premium for Goodwill A/c
Dr
1,20,000
Z's Current A/c
Dr
3,30,000
To X's Capital A/c
3,00,000
To Y's Capital A/c
1,50,000
(Being premium for goodwill credited to old partners in their sacrificing ratio i.e. 2:1)
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