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Question

Following is the balance sheet of firm:

Assets Rs.
Cash20,000
Other Assets1,80,000
2,00,000
LiabilitiesRs.
Akbar Capital (40%)37,000
Birbal Capital (40%)65,000
Tansen Capital (20%)48,000
Other Liabilities50,000
2,00,000
If assets are fairly valued in this balance sheet and partners wishes to admit Jodha as a partner for 1/6th share, how much Jodha should contribute as a capital?

A
Rs. 40,000
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B
Rs. 36,000
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C
Rs.33,333
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D
Rs. 30,000
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Solution

The correct option is D Rs. 30,000
Liabilities 200,000
Jodha as partner of 1/6 share of 200,000 × 1/6 = 33,333
Jodha contribute as a capital of Rs. 33,333.


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