Date | Particulars | LF | Amt (Dr) | Amt (Cr) | |
2018 | |||||
April 1 | ??? | Dr | 75,000 | ||
To...... | 15,000 | ||||
To...... | 60,000 | ||||
(Being the adjustment for goodwill made on change in profit-sharing ratio) |
Answer:
Average Profit \[=\,\frac{90,000+2,25,000+2,55,000+2,85,000+(1,05,000)}{5}=Rs.\,1,50,000\] Goodwill \[=3\times 1,50,000=Rs.\,4,50,000\] Calculation of Sacrificing or Gaining Ratio A \[=\frac{1}{3}-\frac{5}{10}=\frac{10-15}{30}=\left( \frac{5}{30} \right)Gain\] B \[=\frac{1}{3}-\frac{3}{10}=\frac{10-9}{30}=\left( \frac{1}{30} \right)\,\,Sacrifice\] C \[=\frac{1}{3}-\frac{2}{10}=\frac{10-6}{30}=\left( \frac{4}{30} \right)\,\,Sacrifice\] JOURNAL
Date Particulars LF Amt (Dr) Amt (Cr) A's Capital A/c \[\left( 4,50,000\times 5/30 \right)\] Dr 75,000 To B's Capital A/c \[\left( 4,50,000\times 1/30 \right)\] 15,000 To C's Capital A/c \[\left( 4,50,000\times 4/30 \right)\] 60,000 (Being the adjustment for goodwill made on change in profit sharing ratio)
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