Ultimate Book of Accountancy Class 12 Part A Solutions – Admission of Partner
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Practical Problems
Solution 1:
Let the profit be = 1
Share of new partner = 1/10
Remaining profit = 1 – 1/10 = 9/10
William new share = 3/4 x 9/10 = 27/40
Andrew = 1/4 x 9/10 = 9/40
Colin = 1/10 x 4/4 = 4/40
Solution 2:
Green’s Share = 1/10
He acquires this share equally from Black & White i.e. 1/10 x A = 1/20
Black’s new share = 5/9 – 1/20 = 91/180
White’s new share = 4/9 – 1/20 = 71/180
Green’s new share = 1/10 x 18/18 = 18/180
Solution 3:
Old share = 2:1
New share = 3:1:1
Sacrifice of Keyboard = 2/3 – 3/5 = 1/15
Monitor = 1/3 – 1/5 = 2/15
Solution 4:
Let the profit be = 1
Share of new partner = 1/5
Remaining profit = 1 – 1/5 = 4/5
New share of English = 2/3 x 4/5 = 8/15
French = 1/3 x 4/5 = 4/15
History = 1/5 x 3/3 = 3/15
Sacrifice of English = 3/5 – 8/15 = 1/15
French = 2/5 – 4/15 = 2/15
Solution 5:
C’s share 1/3rd which will be sacrificed by A and B in 1:2
1/3 x 1/3 = 1/9 and 1/3 x 2/3 = 2/9
A’s new share = 1/3 – 1/9 = 2/9
B’s new share = 2/3 – 2/9 = 4/9
C’s Share = 1/3 x 3/3 = 3/9
Solution 6:
L’s new share = 7/10 – 2/7 = 29/70
M’s new share = 3/10 – 1/7 = 11/70
N’s new share = 3/7 x 10/10 = 30/70
Solution 7:
A’s new share = 3/5 x A = 3/20 3/5 – 3/20 = 9/20
B’s new share = 2/5 x 1/5 = 2/25 2/5 – 2/25 = 8/25
C’s new share = 3/20 x 2/25 = 23/100 9/20 : 8/25 : 23/100 OR 45:32:23
Solution 8:
Vinod’s new share = 3/5 x 1/3 = 3/15
3/5 – 3/15 = 6/15
Shubh’s new share = 2/5 x 1/4 = 2/20
2/5 – 2/20 = 6/20
Swami’s share = 3/15 (given by Vinod)
Chandel’s Share = 2/20 (given by Shubh)
New share = 24:18:12:6 OR 4:3:2:1
Solution 9:
Let the profit be = 1
Share of new partner = 1/4
Remaining profit = 1 – 1/4 = 3/4
A’s new share = 1/2 x 3/4 = 3/8
B’s new share = 1/2 x 3/4 = 3/8
C’s new share = 1/4 x 2/2 = 2/8
A’s Sacrifice = 3/5 – 3/8 = 9/40
B’s Sacrifice = 2/5 – 3/8 = 1/40
Solution 10:
X’s new share = 7/12 – 1/12 = 6/12
Y’s new share = 5/12 – 1/6 = 3/12
Z’s share = 1/12 + 1/6 = 3/12
New Share = 2:1:1
Sacrificing Share of X = 7/12 – 2/4 = 1/12
Y = 5/12 – 1/4 = 2/12
Solution 11:
Old share of A and C = 1:1
New Share = 5:4:3
A’s Sacrifice = 1/2 – 5/12 = 1/12
C’s Sacrifice = 1/2 – 4/12 = 2/12
Solution 12:
Let the profit be = 1
Share of Vinod and Sunita = 1/6 + 1/6 = 1/3
Remaining profit = 1 – 1/3 = 2/3
Simran’s new share = 3/5 x 2/3 = 6/15
Kuku’s new share = 2/5 x 2/3 = 4/15
New share = 6/15:4/15:1/6:1/6 OR 12:8:5:5
Solution 13:
A’s new share = 4/5 x 1/4 = 4/20
4/5 – 4/20 = 12/20
B’s new share = 1/5 x 1/2 = 1/10
1/5 – 1/10 = 1/10
C’s share = 4/20 + 1/10 = 6/20
12/20: 1/10: 6/20 OR 12:2:6 OR 6:1:3
Sacrifice of A = 4/5 – 6/10 = 2/10 and B = 1/5 – 1/10 = 1/10
Solution 14:
Old Share 7 : 3
A’s new share = 7/10 – 1/7 = 39/70
B’s new share = 3/10 x 1/3 = 1/10
Now 3/10 – 1/10 = 2/10
C’s share = 1/7 + 1/10 = 17/70
A = 39/70 B 2/10 i.e. 14/70 just to make the denominator same C 17/70
Sacrifice = A 7/10 – 39/70 = 10/70
B 3/10 – 14/70 = 7/70
Solution 15:
Old Share = 2:2 i.e. 1:1
L’s new share = 1/2 – 1/4 = 1/4
M’s new share = 1/2 – 1/8 = 3/8
N’s share = 1/4 + 1/8 = 3/8
New Share = 2 : 3 : 3
Note : L’s share is 1/4 but it is converted to 2/8 just to make the denominator same
Solution 16:
X’s new share = 3/5 x 1/2 = 3/10
= 3/5 – 3/10 = 3/10
Y’s new share = 2/5 x 1/2 = 2/10
= 2/5 – 2/10 = 2/10
Z’s new share = 3/10 + 2/10 = 5/10
X’s Sacrifice = 3/5 – 3/10 = 3/10
Y’s Sacrifice = 2/5 – 2/10 = 2/10
Solution 17:
Mohan’s new share = 5/9 – 1/9 = 4/9
Rohan 4/9 Sohan 1/9 New share = 4:4:1
Solution 18:
A’s new share = 5/8 x 1/20 = 1/32
5/8 – 1/32 = 19/32
B’s new share = 3/8 x 1/24 = 1/64
3/8 – 1/64 = 23/64
C’s share = 1/32 + 1/64 = 3/64
New share = 19/32 : 23:64: 3/64 OR 38: 23:3
Solution 19:
Old share = 4:1
New share = 1:1:1 given
Edwin’s Sacrifice = 4/5 – 1/3 = 7/15
Charles’s Gain = 1/5 – 1/3 = 2/15
Solution 20:
E’s Share 20% OR 1/5
Let the profit be = 1
Share of new partner = 1/5
Remaining profit = 1 – 1/5 = 4/5
A’s new share = 3/10 x 4/5 = 12/50
B’s new share = 4/10 x 4/5 = 16/50
C’s new share = 2/10 x 4/5 = 8/50
D’s new share = 1/10 x 4/5 = 4/50
E’s new share = 1/5 x 10/10 = 10/50
New share = 12:16:8:4:10 OR 6:8:4:2:5
Solution 21:
Let the profit be = 1
Share of new partner = 1/4
Remaining profit = 1 – 1/4 = 3/4
A’s new share = 3/5 x 3/4 = 9/20
B’s new share = 2/5 x 3/4 = 6/20
C = 1/4 x 5/5 = 5/20
New Share = 9:6:5
Now D enters and his share is 1/5
Let the profit be = 1
Share of new partner = 1/5
Remaining profit = 1 – 1/5 = 4/5
New share of A = 9/20 x 4/5 = 36/100
B = 6/20 x 4/5 = 24/100
C = 5/20 x 4/5 = 20/100
D = 1/5 x 20/20 = 20/100
New Share = 36:24:20:20 OR 9:6:5:5
Solution 22:
Anita’s new share = 9/14 – 1/12 = 47/84
Tina’s new share = 5/14 – 1/24 = 53/168
Chetan’s share = 1/8 x 21/21 = 21/168
New Share = 47/84: 53:168: 21:168 OR 94:53:21
Solution 23:
A’s new share = 3/5 x 1/6 = 3/30
3/5 – 3/30 = 15/30
B’s new share = 2/5 x A = 2/20
2/5 – 2/20 = 6/20
C’s Share = 3/30 + 2/20 = 12/60
New Share = 15/30: 6/20: 12:60 OR 30:18:12 OR 5:3:2
Sacrificing Share: A = 3/5 – 5/10 = 1/10
B = 2/5 – 3/10 = 1/10
Solution 24:
Let the profit be = 1
Share of new partner = 1/6
Remaining profit = 1 – 1/6 = 5/6
Simon’s new share = 5/8 x 5/6 = 25/48
Murray’s new share = 3/8 x 5/6 = 15/48
George’s Share = 1/6 x 8/8 = 8/48
No journal entries for premium paid privately.
Solution 25:
No entry for premium paid privately
Blair Dr. 4,000
Brent Dr. 3,000
To Goodwill 7,000
(Being existing goodwill written off)
Profit will be distributed by the old partners in 4:3.
P/L A/c Dr. 21,000
To Blair 12,000
To Brent 9,000
Solution 26:
Let the profit be = 1
Share of new partner = 1/4
Remaining profit = 1 – 1/4 = 3/4
Paul’s new share = 3/5 x 3/4 = 9/20
Peter’s new share = 2/5 x 3/4 = 6/20
Roy = 1/4 x 5/5 = 5/20
Sacrificing Ratio = Paul = 3/5 – 9/20 = 3/20 and Peter = 2/5 – 6/20 = 2/20
Cash A/c Dr. 20,000
To Premium for goodwill 20,000
(Being premium brought by new partner)
Premium for goodwill Dr. 20,000
To Paul 12,000
To Peter 8,000
(Being premium adjusted)
Solution 27:
Old Share = 7:3
New Share = 5:3:2
Sacrificing share = Ronald = 7/10 – 5/10 = 2/10
Sam = 3/10 – 3/10 = Nil
Cash A/c Dr. 20,000
To Premium for goodwill 20,000
(Being premium brought by new partner)
Premium for goodwill Dr. 20,000
To Ronald 20,000
(Being premium adjusted)
Solution 28:
X’s new share = 5/9 – 2/9 = 3/9
Y’s new share = 4/9 – 1/9 = 3/9
Z’s share = 1/3 x 3/3 = 3/9
Sacrifice = X = 5/9 – 1/3 = 2/9
Y = 4/9 – 1/3 = 1/9
Cash A/c Dr. 1,500
To Premium for goodwill 1,500
(Being premium brought by new partner)
Premium for goodwill Dr. 1,500
To X 1,000
To Y 500
(Being premium adjusted)
Solution 29:
Old share = 5:3:2
New share = 3:2:2:1
Sacrifice/Gain
A = 5/10 – 3/8 = 5/40
B = 3/10 – 2/8 = 2/40
C = 2/10 – 2/8 = 2/40
Bank A/c Dr. 2,05,000
To D’s Capital 1,75,000
To Premium for goodwill 30,000
(Being premium and capital brought by new partner)
Premium for goodwill Dr. 30,000
C’s Capital A/c 12,000 (2,40,000 2/40)
To A’s Capital A/c 30,000
To B’s Capital A/c 12,000
(Being premium adjusted)
Solution 30:
Bat’s new share = 3/5 x 1/2 = 3/10
3/5 – 3/10 = 3/10
Ball’s new share = 2/5 x 1/2 = 2/10
2/5 – 2/10 = 2/10
Helmet’s new share = 3/10 + 2/10 =5/10
Sacrifice = Bat = 3/5 – 3/10 = 3/10 and Ball = 2/5 – 2/10 = 2/10
Cash A/c Dr. 30,000
To Premium for goodwill 30,000
(Being premium brought by new partner)
Premium for goodwill Dr. 30,000
To Bat 18,000
To Ball 12,000
(Being premium adjusted)
Solution 31:
Let the profit be = 1
New partner’s share = 1/4
Remaining share = 1 – 1/4 = 3/4
Albert’s new share = 1/2 x 3/4 = 3/8
Barry’s new share = 1/2 x 3/4 = 3/8
Craig = 1/4 x 2/2 = 2/8
Sacrifice:
Albert = 3/5 – 3/8 = 9/40
Barry = 2/5 – 3/8 = 1/40
Cash A/c Dr. 40,000
To Premium for goodwill 40,000
(Being premium brought by new partner)
Premium for goodwill Dr. 40,000
To Albert 36,000
To Barry 4,000
(Being premium adjusted)
Solution 32:
Old Share = 3:2
New Share = 4:3:1
A’s Sacrifice = 3/5 – 4/8 = 4/40
B’s Sacrifice = 2/5 – 3/8 = 1/40
Cash A/c Dr. 4,000
To Premium for goodwill 4,000
(Being premium brought by new partner)
Premium for goodwill Dr. 4,000
To A’s Current A/c 3,200
To B’s Current A/c 800
(Being premium adjusted)
Solution 33:
Old Share = 3:2:1
New Share = 2:2:2:1
Sacrifice/Gain
Mark = 3/6 – 2/7 = 9/42
Murray = 2/6 – 2/7 = 2/42
Fox = 1/6 – 2/7 = 5/42 Gain
Bank/Cash A/c Dr. 6,90,000
To Hero’s Capital 6,00,000
To Premium 90,000
(Being capital and premium brought by new partner)
Premium Dr. 90,000 Fox’s Capital A/c 75,000
To Mark’s Capital A/c 1,35,000
To Murray’s Capital A/c 30,000
90,000 + 75,000 in 9:2
Total goodwill = 90,000 x 7/1 = 6,30,000
Fox’s Share = 6,30,000 x 5/42 = 75,000
Solution 34:
Old Share = 5:2
New Share = 2:3:3
Sacrifice/Gain
A = 5/7 – 2/8 = 26/56
B = 2/7 – 3/8 = 5/56
Bank/Cash A/c Dr. 5,10,000
To Premium 2,10,000
To C’s Capital A/c 3,00,000
Premium Dr. 2,10,000
B’s Capital A/c 50,000
To A’s Capital A/c 2,60,000
Total capital of firm = 2,10,000 x 8/3 = 5,60,000
B’s share = 5,60,000 x 5/56 = 50,000
Solution 35:
Old Share = 3:1
New Share = 1:1:1
Sacrifice/Gain
A = 3/4 – 1/3 = 5/12
B = 1/4 – 1/3 = 1/12 Gain
Bank/Cash A/c Dr. 1,60,000
To C’s Capital A/c 1,00,000
To Premium 60,000
Premium Dr. 60,000
B’s Capital A/c 15,000
To A’s Capital A/c 75,000
Total goodwill of the firm = 60,000 x 3/1 = 1,80,000
B’s Share = 1,80,000 x 1/12 = 15,000
Solution 36:
Old Share = 3:2
New Share = 5:3:2
Sacrifice:
A = 3/5 – 5/10 = 1/10
B = 2/5 – 3/10 = 1/10
Bank/Cash A/c Dr. 40,000
To C’s Capital A/c 30,000
To Premium 10,000
Premium Dr. 10,000
To A’s Capital A/c 5,000
To B’s Capital A/c 5,000
A’s Capital A/c Dr. 1,800
B’s Capital A/c Dr. 1,200
To Goodwill 3,000
Solution 37:
Old Share = 3:2
C’s share 3/10 which he acquires in 2:1
i.e. 3/10 x 2/3 = 6/30
3/10 x1/3 = 3/30
A’s new share = 3/5 – 6/30 = 12/30
B’s new share = 2/5 – 3/30 = 9/30
C’s Share = 3/10 x 3/3 = 9/30
New Share = 12:9:9 OR 4:3:3
Sacrifice = A = 3/5 – 4/10 = 2/10
B = 2/5 – 3/10 = 1/10
Bank/Cash A/c Dr. 3,000
To Premium fog goodwill 3,000
Premium Dr. 3,000
To A’s Capital A/c 2,000
To B’s Capital A/c 1,000
A’s Capital A/c Dr. 1,200
B’s Capital A/c Dr. 8000
To Goodwill 2,000
Solution 38:
Old Share = 3:2
New Share = 3:3:2
Sacrifice = A = 3/5 – 3/8 = 9/40
B = 2/5 – 3/8 = 1/40
Bank/Cash A/c Dr. 1,000
To Premium 1,000
Premium Dr. 1,000
To A’s Capital A/c 900
To B’s Capital A/c 100
A’s Capital A/c Dr. 600
B’s Capital A/c Dr. 400
To Goodwill 1,000
Solution 39:
Old Share = 3:1
New Share = 1:1:1
Sacrifice/Gain
Rich = 3/4 – 1/3 = 5/12 sacrifice
Poor = 1/4 – 1/3 = 1/12 Gain
Cash A/c Dr. 25,000
Furniture Dr. 45,000
Machinery Dr. 50,000
To Premium 1,20,000
Premium Dr. 1,20,000
Poor’s Capital A/c 30,000
To Rich 1,50,000
Poor’s share = 1,20,000 x 3/1 = 3,60,000 x 1/12 = 30,000
Solution 40:
Old Share = 3:2
New Share = 5:5:3
Sacrifice/Gain
Koyal = 3/5 – 5/13 = 14/65
Goyal = 2/5 – 5/13 = 1/65
Stock Dr. 20,000
Debtors Dr. 30,000
Land Dr. 50,000
Plant & Mach. Dr. 30,000
To Premium 60,000
To Royal’s Capital A/c 70,000
Premium Dr. 60,000
To Koyal 56,000
To Goyal 4,000
Solution 41:
David’s share = 3/13
Remaining Share = 1 – 3/13 = 10/13
Jack’s new share = 3/5 x 10/13 = 30/65
James new share = 2/5 x 10/13 = 20/65
Furniture 45,000
Machinery 35,000
Stock 30,000
Debtors 20,000
To David’s Capital A/c 70,000
To Premium 60,000
Premium Dr. 60,000
To Jack 36,000
To James 24,000
Solution 42:
Let the profit be = 1
New partner’s share = 1/10
Remaining profit = 1 – 1/10 = 9/10
Tom’s new share = 3/4 x 9/10 = 27/40
Josh’s new share = 1/4 x 9/10 = 9/40
Max’s new share = 1/10 x 4/4 = 4/40
Sacrifice = Tom = 3/4 – 27/40 = 3/40
Josh = 1/4 – 9/40 = 1/40
Stock 40,000
Land & Building 3,00,000
Plant & Mach. 2,60,000
To Max’s Capital A/c 4,00,000
To Premium (Bal. fig.) 2,00,000
Premium Dr. 2,00,000
To Tom’s Capital A/c 1,50,000
To Josh’s Capital A/c 50,000
Solution 43:
Old Share = 7:3
New Share = 5:2:3
Sacrifice/Gain
Thomas = 7/10 – 5/10 = 2/10
Daniel = 3/10 – 2/10 = 1/10
Bank/Cash Dr. 12,000
To Premium for goodwill 12,000
Premium Dr. 12,000
To Thomas 8,000
To Daniel 4,000
Thomas 800
Daniel 400
To Cash 1,200
Solution 44:
Old Share = 3:2
New Share = 3:3:2
Sacrificing Ratio = Vinayak = 3/5 – 3/8 = 9/40
Sahee = 2/5 – 3/8 = 1/40
Cash A/c Dr. 20,000
To Premium 20,000
Premium Dr. 20,000
To Vinayak 18,000
To Sahee 2,000
Vinayak Dr. 18,000
Sahee Dr. 2,000
To Cash 20,000
Vinayak Dr. 2,400
Sahee 1,600
To Goodwill 4,000
Solution 45:
Old Share = 7.5
New Share = 1:1:2
Sacrifice = Lagan = 7/12 – 1/4 = 4/12 and Mayank 5/12 – 1/4 = 2/12
Cash A/c Dr. 16,000
To Premium 6,000
To Abhit 10,000
Premium Dr. 6,000
To Lagan 4,000
To Mayank 2,000
Lagan Dr. 4,000
Mayank Dr. 2,000
To Cash 6,000
Solution 46:
A’s new share = 5/8 – 2/10 = 17/40
B’s new share = 3/8 – 1/10 = 11/40
C’s share = 3/10 x 4/4 = 12/40
Sacrifice = A = 5/8 – 17/40 = 8/40 and B = 3/8 – 11/40 = 4/40
Cash A/c Dr. 3,000
To Premium 3,000
Premium 3,000
To A 2,000
To B 1,000
C’s Current A/c 4,800
To A 3,200
To B 1,600
Solution 47:
Let the profit be = 1
New partner’s share = 1/4
Remaining profit = 1 – 1/4 = 3/4
A’s new share = 1/2 x 3/4 = 3/8
B’s new share = 1/2 x 3/4 = 3/8
C’s new share = 1/4 x 2/2 = 2/8
Sacrifice: A = 1/2 – 3/8 = 1/8
B = 1/2 – 3/8 = 1/8
Cash A/c Dr. 1,000
To Premium for goodwill 1,000
Premium for goodwill Dr. 1,000
To A 500
To B 500
Solution 48:
Old Share = 3:2
New Share = 4:3:2 given
Sacrifice: Louis = 3/5 – 4/9 = 7/45
Jack = 2/5 – 3/9 = 3/45
Cash A/c Dr. 45,000
To Billy’s Capital A/c 40,000
To Premium for goodwill 5,000
Premium for goodwill Dr. 5,000
To Louis’s Capital A/c 3,500
To Jack’s Capital A/c 1,500
Billy’s Current A/c Dr. 3,000
To Louis’s Capital A/c 2,100
To Jack’s Capital A/c 900
Solution 49:
Old Share = 5:3
New Share = 4:3:2
Sacrifice: X = 5/8 – 4/9 = 13/72
Y = 3/8 -3/9 = 3/72
Cash A/c Dr. 1,00,000
To Z’s Capital A/c 1,00,000
Z’s Current A/c Dr. 40,000
To X’s Capital A/c 32,500
To Y’s Capital A/c 7,500
X’s Capital A/c Dr. 1,50,000
Y’s Capital A/c Dr. 90,000
To Goodwill 2,40,000
Solution 50:
Let the profit be = 1
New partner’s share = 1/4
Remaining Share = 1 – 1/4 = 3/4
A’s new share = 3/5 x 3/4 = 9/20
B’s new share = 2/5 x 3/4 = 6/20
C’s Share = 1/4 x 5/5 = 5/20
Sacrifice: A = 3/5 – 9/20 = 3/20
B = 2/5 – 6/20 = 2/20
C’s Current A/c Dr. 5,250
To A’s Capital A/c 3,150
To B’s Capital A/c 2,100
Solution 51:
Let the profit be = 1
New partner’s share = 1/5
Remaining Share = 1 – 1/5 = 4/5
Pandey’s new share = 1/4 x 4/5 = 4/20
Vinayak’s new share = 3/4 x 4/5 = 12/20
Raghu’s Share = 1/5 x 4/4 = 4/20
New Share = 1:3:1
Sacrifice: Pandey = 1/4 – 1/5 = 1/20
Vinayak = 3/4 – 12/20 = 3/20
Raghu’s Current A/c Dr. 20,000
To Pandey’s Capital A/c 5,000
To Raghu’s Capital A/c 15,000
Solution 52:
Old Share = 5:3
New Share = 4:3:2
Sacrifice: William = 5/8 – 4/9 = 13/72
Roy = 3/8 – 3/9 = 3/72
Cash A/c Dr. 1,00,000
To Edward’s Capital A/c 1,00,000
Edward’s Current A/c Dr. 40,000
To William’s Capital A/c 32,500
To Roy’s Capital A/c 7,500
William’s Capital A/c Dr. 1,50,000
Roy’s Capital A/c Dr. 90,000
To Goodwill 2,40,000
Solution 53:
X’s new share = 5/9 – 2/9 = 3/9
Y’s new share = 4/9 – 1/9 = 3/9
Z’s share = 1/3 x 3/3 = 3/9
New Share = 1:1:1
Sacrifice: X = 5/9 – 3/9 = 2/9
Y = 4/9 – 3/9 = 1/9
Cash A/c Dr. 2,00,000
To Z’s Capital A/c 2,00,000
Z’s Current A/c Dr. 60,000
To X’s Capital A/c 40,000
To Y’s Capital A/c 20,000
Solution 54:
Let the profit be = 1
New partner’s share = 1/4
Remaining Share = 1 – 1/4 = 3/4
A’s new share = 3/5 x 3/4 = 9/20
B’s new share = 2/5 x 3/4 = 6/20
C’s Share = 1/4 x 5/5 = 5/20
Sacrifice: A = 3/5 – 9/20 = 3/20
B = 2/5 – 6/20 = 2/20
C’s Current A/c Dr. 21,000
To A’s Capital A/c 12,600
To B’s Capital A/c 8,400
Solution 55:
Let the profit be = 1
New partner’s share = 1/5
Remaining Share = 1 – 1/5 = 4/5
A’s new share = 3/5 x 4/5 = 12/25
B’s new share = 2/5 x 4/5 = 8/25
C’s Share = 1/5 x 5/5 = 5/25
Sacrifice: A = 3/5 – 12/25 = 3/25
B = 2/5 – 8/25 = 2/25
Hidden Goodwill = Total Capital 1,80,000 x 5/1 = 9,00,000
Combined Capital = 2,40,000 + 1,50,000 + 1,80,000 = 5,70,000
Goodwill 3,30,000 = Total Capital 9,00,000 – Combined Capital 5,70,000
C’s share = 3,30,000 x 1/5 = 66,000
Cash A/c Dr. 2,46,000
To Premium for goodwill 66,000
To C’s Capital A/c 1,80,000
Premium for goodwill Dr. 66,000
To A 39,600
To B 26,400
Solution 56:
Old Share = 1:1
Bhandari’s Share = 1/5
Let the Profit be = 1
Remaining share = 1 – 1/5 = 4/5
Sushant’s new share = 1/2 x 4/5 = 4/10
Ranauq’s new share = 1/2 x 4/5 = 4/10
Bhandari = 1/5 x 2/2 = 2/10
New Share = 2:2:1
Sacrifice: Sushant = 1/2 – 2/5 = 1/10
Ranauq = 1/4 x 2/5 = 1/10
Sacrifice 1:1
Hidden Goodwill = Total Capital = 16,000 x 5/1 = 80,000
Combined capital = 26,000 + 18,000 + 16,000 = 60,000
Goodwill = 80,000 – 60,000 = 20,000
Bhandari’s share = 20,000 x 1/5= 4,000
Cash A/c Dr. 20,000
To Bhandari’s Capital A/c 16,000
To Premium of goodwill 4,000
Premium for goodwill Dr. 4,000
To Sushant’s Capital A/c 2,000
To Ranauq’s Capital A/c 2,000
Solution 57:
Arjun’s share = 1/5 which he acquires equally from Parag and Digvijay
i.e. 1/5 x 1/2 = 1/10
Parag’s new share = 7/10 – 1/10 = 6/10
Digvijay = 3/10 – 1/10 = 2/10
Arjun = 1/5 x 2/2 = 2/10
New Share = 6:2:2 OR 3:1:1
Sacrifice: Parag = 7/10 – 3/5 = 1/10
Digvijay = 3/10 – 1/5 = 1/10
Sacrifice = 1:1
Hidden Goodwill = Total Capital = 25,000 x 5/1 = 1,25,000
Combined capital = 40,000 + 30,000 + 25,000 = 95,000
Goodwill = 1,25,000 – 95,000 = 30,000 and Arjun’s share 30,000 x 1/5 = 6,000
Cash A/c Dr. 31,000
To Arjun’s Capital A/c 25,000
To Premium for goodwill 6,000
Premium for goodwill Dr. 6,000
To Parag’s Capital A/c 3,000
To Digvijay’s Capital A/c 3,000
Solution 58:
Let the profit be = 1
New partner’s share = A
Remaining profit = 1 -1/4 = 3/4
A’s new share = 1/2 x 3/4 = 3/8
B’s new share = 1/2 x 3/4 = 3/8
C = 1/4 x 2/2 = 2/8
Sacrifice = A = 1/2 – 3/8 = 1/8
B = 1/2 – 3/8 = 1/8
Hidden Goodwill = Total Capital = 1,40,000 x 4/1 = 5,60,000
Combined Capital = 1,20,000 + 2,40,000 + 1,40,000 = 5,00,000
Goodwill = 5,60,000 – 5,00,000 = 60,000 C’s Share = 60,000 x 1/4 = 15,000
Cash A/c Dr. 1,55,000
To Premium for goodwill 15,000
To C’s Capital A/c 1,40,000
Premium for goodwill Dr. 15,000
To A’s Capital A/c 7,500
To B’s Capital A/c 7,500
Solution 59:
General Reserve Dr. 32,000
To Uday’s Capital A/c 20,000
To Bharat’s Capital A/c 12,000
Uday’s Capital A/c 30,000
Bharat’s Capital A/c 18,000
To P/L A/c 48,000
Solution 60:
Old share = 4:1
New Share = 4:2:3
Sacrifice = Ram = 4/5 – 4/9 = 16/25
Mohan = 1/5 – 2/9 = 1/45 Gain
General Reserve Dr. 50,000 (divided in old ratio)
To Ram’s Capital A/c 40,000
To Mohan’s Capital A/c 10,000
Ram’s Capital A/c Dr. 12,800
Mohan’s Capital A/c Dr. 3,200
To P/L A/c 16,000
Cash A/c Dr. 30,000
To Premium for goodwill 30,000
Premium for goodwill Dr. 30,000
Mohan’s Capital A/c 2,000
To Ram’s Capital A/c 32,000
Total goodwill of firm = 30,000 x 3/1 = 90,000
Solution 61:
Solution 62:
CASE – 1: Hidden Goodwill
Hidden Goodwill = Total Capital 10,000 x 5/1 = 50,000
Combined capital = 5,000 + 2,500 + 10,000 = 17,500
Goodwill = 50,000 – 17,500 = 32,500
C’s Share = 32,500 x 1/5 = 6,500
CASE – 2
Goodwill = Total Capital 50,000 – Combined capital 27,500 = 22,500
C’s Share = 22,500 x 1/5 = 4,500
Solution 63:
Old Share = 5:3
Henry’s share = 1/5
Let the profit be = 1
Remaining share = 1 – 1/5 = 4/5
Anthony’s share = 5/8 x 4/5 = 20/40
Justin’s share = 3/8 – 4/5 = 12/40
Henry = 1/5 x 8/8 = 8/40
New Share = 20:12:8 OR 5:3:2
Sacrifice = Anthony = 5/8 – 5/10 = 5/40
Justin = 3/8 – 3/10 = 3/40
Solution 64:
New Share = 12:8:5
Sacrifice = 3:2
Solution 65:
New Share = 9:6:5
Sacrifice = 3:2
Solution 66:
New Share = 2:1:1
Sacrifice = 2:1
Solution 67:
New Share = 3:2:1
Sacrifice = 3:2
Solution 68:
New Ratio = 21:14:5
Sacrifice = 3:2
Solution 69:
New Ratio 10 : 15 : 25 : 10 i.e. 2 : 3 : 5 : 2
Sacrifice = 2 : 3 : 5
Solution 70:
New Ratio = 12 : 8 : 5
Sacrifice = 3:2
Hidden Goodwill = Total Capital = 30,000 x 5/1 = 1,50,000
Combined Capital = 30,000 + 20,000 + 30,000 = 80,000
Hidden Goodwill = 1,50,000 – 80,000 = 70,000
Pulkit’s Share = 70,000 x 1/5 = 14,000
Solution 71:
New Share = 5:3:2
Sacrifice = 1:1
Total capital 1,00,000 x 5/1 = 5,00,000
Combined capital = 1,47,900 + 73,600 + 1,00,000 = 3,21,500
Hidden Goodwill = 5,00,000 – 3,21,500 = 1,78,500
Paul’s share = 1,78,500 x 2/10 = 35,700
Solution 72:
CASE – 1
New Share = 4 : 3 : 1
Sacrifice = 4 : 1
Total capital = 5,000 x 8/1 = 40,000
Combined capital = 8,500 + 6,500 + 5,000 = 20,000
Hidden goodwill = Total capital 40,000 – combined capital 20,000 = 20,000
C’s share = 20,000 x 1/8 = 2,500
CASE – 2
Total Capital = 5,000 x 8/1 = 40,000
Combined capital = 10,000 + 7,500 + 5,000 = 22,500
Hidden goodwill = 40,000 – 22,500 = 17,500
C’s share = 17,500 x 1/8 = 2,188
Cash A/c Dr. 7,188
To C’s Capital A/c 5,000
To Premium for goodwill 2,188
Premium for goodwill Dr. 2,188
To A’s Current A/c 1,750
To B’s Current A/c 438
Solution 73:
New Share = 3:3:2
Sacrifice = Only M is sacrificing
Goodwill = Super Profit 20,000 – 12,000 = 8,000 x 4 = 32,000
N’s Share = 32,000 x 1/4 = 8,000
Solution 74:
New Share = 2:1:1
Sacrifice = 2:1
Solution 75:
New Share = 3:1:1
Sacrifice = 3:1
Solution 76:
New Share = 3:1:1
Sacrifice = 3:1
Solution 77:
New Share = 12:8:5
Sacrifice = 3:2
Solution 78:
New Ratio = 7 : 5 : 3 and Sacrifice = 19 : 5
Solution 79:
New Share = 3:2:1
Sacrifice = Only A is sacrificing
Solution 80:
New Ratio = 3 : 3: 2
Sacrifice = 9 : 1
Solution 81:
New Share = 3:1:1 and Sacrifice = 3:1
Solution 82:
New Share = 3:1:1 and Sacrifice 3:1
Solution 83:
New Share = 6:5:3:2 and sacrifice 6:5:3
Total capital = 17,700 x 1/8 = 1,41,600
Solution 84:
New Share = 5:3:2 and sacrifice = 1:1
Solution 85:
New Share = 9:6:5
Sacrifice = 3:2
Solution 86:
New Share = 9:6:3:2 and Sacrifice = 3:2:1
Solution 87:
New share = 9:3:4 and 3:1
Solution 88:
New share = 9:6:5 and sacrifice = 3:2
Solution 89:
New Share = 3:2:1 and Sacrifice = 3:2
Total capital = 20,000 x 6/1 = 1,20,000
Solution 90:
New Share = 5:3:4 and sacrifice = 5:3
Total capital = 10,000 x 3/1 = 30,000
Solution 91:
New Share = 4:3:1 and Sacrifice 4:3
Total capital = 1,68,000 + 1,26,000 = 2,94,000 x 8/7 = 3,36,000 x 1/8 = 42,000
Solution 92:
New Share = 6:4:5 and Sacrifice 3:2
Solution 93:
New Share 3:2:1 and Sacrifice 3:2
Solution 94:
New share = 9:6:5 and Sacrifice 1:1
Solution 95:
New share = 3:3:2
Sacrifice = 1:1
Cash A/c Dr. 6,000
To Anna’s Capital A/c 6,000
(Being Capital brought by Anna)
Anna’s Current A/c Dr. 1,500
To Garry’s Capital A/c 750
To Marry’s Capital A/c 750
(Being premium for goodwill adjusted)
Solution 96:
New Share 12 : 8 : 5 and Sacrifice 3:2
Solution 97:
New Share 3:3:2 and sacrifice 9:1
Solution 98:
New Share 9:6:5 and sacrifice 3:2
Solution 99:
New share = 3:3:2 and sacrifice 9:1
Solution 100:
New Share = 1:1:1 and sacrifice 4:1
Capital employed = 3,00,000 given
Normal profit = 3,00,000 x 10/100 = 30,000
Super profit = Average Profit – Normal profit
15,000 = 45,000 – 30,000
Goodwill = 15,000 x 2 = 30,000 and Peter’s share = 30,000 x 1/3 = 10,000
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