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Standard XII

Accountancy

Issued Share Capital

A and B are p...

Question

A and B are partners with the capital Rs. 1,00,000 and Rs. 80,000 respectively. They share profits and losses equally. C is admitted on bringing Rs. 50,000 as capital only and nothing was bought against goodwill. Goodwill in Balance sheet of Rs. 40,000 is revalued as Rs. 70,000. What will be value of goodwill in the books after the admission of C?

Rs. 1,10,000.

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Rs. 70,000.

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Rs. 40,000.

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Rs. 30,000.

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Solution

The correct option is D Rs. 70,000.
Value of goodwill in the books after the admission of C= Rs 70000. Because the goodwill has been revalued before the admission of C.

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Similar questions

Q. A and B are partners with the capital Rs.50,000 and Rs.40,000 respectively.They share profits and losses equally. C is admitted on bringing Rs.50,000 as capital only and nothing was brought against goodwill. Goodwill in Balance sheet of Rs.10,000 is revalued as 30,000.What will be value of goodwill in the books after the admission of C?

Q. A & B having share capital of Rs.

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each, share profits and losses equally. They admit C as an equal partner and goodwill was valued as Rs.

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brings in

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The correct option is D Rs. 70,000.Value of goodwill in the books after the admission of C= Rs 70000. Because the goodwill has been revalued before the admission of C.

The correct option is D Rs. 70,000.
Value of goodwill in the books after the admission of C= Rs 70000. Because the goodwill has been revalued before the admission of C.