3️⃣ Class 12 Accountancy| Admission of Partner | Goodwill, Revaluation, Capital Adjustments скачать в хорошем качестве

3️⃣ Class 12 Accountancy| Admission of Partner | Goodwill, Revaluation, Capital Adjustments

Goodwill Distribution – Illustration / Example ProblemA & B are partners in a firm sharing profits & losses in the ratio 3:2.Their balance sheet on 1st April 2025 is:Balance Sheet of A & B. Liabilities Amount: Creditors 20,000, Capital A 90,000, Capital B 60,000, Now Asset Amount: Debtors 40,000, Stock 30,000, Plant & Machinery 40,000, Cash 60,000. -C is admitted as a new partner Terms of Admission. Additional info: C brings ₹50,000 as capital. 2. C also brings premium for goodwill ₹20,000. 3. Goodwill already stands in books at ₹10,000 (to be written off / return of goodwill). 4. Assets to be revalued:Stock increases by ₹5,000Machinery decreases by ₹4,0005. The new profit-sharing ratio will be 5:3:2 (A:B:C). In this illustration old ratio will be considered by default as sacrificing ratio. Prepare Journal entries.