Question

Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3:2:1. Manisha retires and goodwill of the firm is valued at Rs 1,80,000. Aparna and Sonia decided to share future in the ratio of 3:2. Pass necessary Journal entries.

Answer 1

Books of Aparna, and Sonia Journal
Date	Particulars		L.F.	Amount Rs	Amount Rs
	Aparna’s Capitals A/c	Dr.		18,000
	Sonia’s Capital A/c	Dr.		42,000
	To Manisha’s Capital A/c				60,000
	(Manisha’s share of goodwill adjusted to Aparna’s and Sonia’s Capital Account in their gaining ratio )

Working Notes:

1. Manisha’s share in goodwill:

Total goodwill of the firm × Retiring Partner’s Share =

2. Gaining Ratio = New Ratio − Old Ratio

Aparna Gaining share

Gaining Ratio between Aparna and Sonia = 3 : 7

3. Aparna’s share in goodwill

Sonia’s share in goodwill