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Question

Keshav, Nirmal and Pankaj are partners sharing profits and losses in the ratio of 4 : 3 : 2. Nirmal retires and the goodwill is valued at Rs. 72,000. Keshav and Pankaj decided to share future profits and losses in the ratio of 5 : 3. What will be the net effect on Keshav`s and Pankaj's capital account?


A

None of the above

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B

20,000 & Rs 10,000

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C

Rs 13,000 & Rs 11,000

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D

Rs 12,000 & Rs 10,000

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Solution

The correct option is C

Rs 13,000 & Rs 11,000


Keshav

Nirmal

Pankaj

Before retirement(4:3:2)

32,000

24,000

16,000

After retirement(5:3)

45,000

27,000

Net Effect

13,000 (Dr)

11,000 (Dr)




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