question_answer

X, Y and Z are partners sharing profits and losses in the ratio of 5 : 3 : 2. Z retired and his capital balance after adjustments regarding reserves, accumulated profits/losses and gain/loss on revaluation was Rs. 5,00,000. Z was paid Rs. 6,00,000 in full settlement. Afterwards, S was admitted for \[\frac{1}{4}th\] share. Calculate the amount of goodwill premium brought by S.

Answer:

Not Available