A & B having share capital of Rs. $10, 000$ each, share profits and losses equally. They admit C as an equal partner and goodwill was valued as Rs. $30, 000$ (book value NIL). C is to bring in Rs. $20, 000$ as his capital and the necessary cash towards his share of Goodwill. Goodwill Account will not be shown in the books. If profit on revaluation is Rs. $13, 000$ , find the closing balance of the capital account.

21, 500 : 21, 500 : 20, 000

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31, 500 : 31, 500 : 30, 000

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26, 500 : 26, 500 : 30, 000

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20, 000 : 20, 000 : 20, 000

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Solution

The correct option is A $21, 500 : 21, 500 : 20, 000$
The closing balance of Partner's Capital will be in the ratio 21500:21500:20000

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The correct option is A 21,500:21,500:20,000The closing balance of Partner's Capital will be in the ratio 21500:21500:20000

The correct option is A $21, 500 : 21, 500 : 20, 000$
The closing balance of Partner's Capital will be in the ratio 21500:21500:20000