Kalki and Kumud Were Partners Sharing Profits and Losses In The Ratio of 5:3. On 1st April,2021 - Bzziii.com

Kalki and Kumud were partners sharing profits and losses in the ratio of 5:3. On 1st April,2021 they admitted Kaushtubh as a new partner and new ratio was decided as 3:2:1. Goodwill of the firm was valued as ₹3,60,000. Kaushtubh couldn’t bring any amount for goodwill. Amount of goodwill share to be credited to Kalki and Kumud Account’s will be: - 

(A) ₹ 37,500 and ₹22,500 respectively 

(B) ₹ 30,000 and ₹30,000 respectively 

(C) ₹ 36,000 and ₹24,000 respectively 

(D) ₹ 45,000 and ₹15,000 respectively

(D) ₹ 45,000 and ₹15,000 respectively

Explanation:

Kalki's old share = `5/8`
Kumud's old share = `3/8`

Kalki's new share = `3/6`
Kumud's new share = `2/6`
Kaushtubh's new share = `1/6`



Calculation of the sacrificing ratio:

Sacrificing ratio = Old share - New share

For Kalki:

Sacrificing ratio = `5/8` - `3/6` 

= `"30 - 24"/"48"` 

= `6/48`

For Kumud:

Sacrificing ratio = `3/8 - 2/6` 

= `"18 - 16"/"48"` 

= `2/48`

Calculation of goodwill shares:

Goodwill share = Goodwill × Sacrificing ratio

For Kalki:

Goodwill = Rs 3,60,000 × `6/48` 

= Rs 45,000

For Kumud:

Goodwill = Rs 3,60,000 × `2/48` 

= Rs 15,000

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CBSE Class 12 Accountancy Sample Paper-2022