Question : Ram Mohan and Anil were partners in a firm sharing profits in a 2:2:1 ratio. The firm closes its books on 31st March every year. Mohan died on 24-8-2017. On Mohan’s death, the goodwill of the firm was valued at Rs.75,000. The partnership deed provided that on the death of a partner, his share in the profits of the firm in the year of his death will be calculated on the basis of last year’s profit. The profit of the firm for the year ended 31-3- 2017 was Rs.2,00,000. Q. Mohan’s share of goodwill is
Option 1: Rs 15,000
Option 2: Rs 45,000
Option 3: Rs 60,000
Option 4: Rs 30,000
Correct Answer: Rs 30,000
Solution : Answer = Rs 30,000
Total Goodwill of the firm = 75000 Mohan's Share of Goodwill = ${75000}\times\frac{2}{5} = 30,000$ Hence, the correct option is 4.
Question : Ram Mohan and Anil were partners in a firm sharing profits in a 2:2:1 ratio. The firm closes its books on 31st March every year. Mohan died on 24-8-2017. On Mohan’s death, the goodwill of the firm was valued at Rs.75,000. The partnership deed provided that on
Question : Ram Mohan and Anil were partners in a firm sharing profits in a 2:2:1 ratio. The firm closes its books on 31st March every year. Mohan died on 24-8-2017. On Mohan’s death, the goodwill of the firm was valued at Rs.75,000. The partnership deed provided that on the
Question : In the partnership agreement between R Sand T who were sharing profits in the ratio of 5 : 3 : 2, the goodwill was to be valued on the death of any partner on the basis of such partner’s share of 2 year’s profits calculated on the average of 5 year’s
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