Hi Johny, We are providing you with the answer for Q 10 Please post the other questions in separate threads Journal Date Particulars L F Debit Amount (Rs) Credit Amount (Rs) Z’s Capital/Current A/c Dr 28,000 To X’s Capital A/c 16,800 To Y’s Capital A/c 11,200 (Goodwill adjusted through Z’s Capital/Current A/c) Working Notes: Z's Capital=90,000 for 15th share Total Capital of Firm (on the basis of Z's Capital)=4,50,000 90,000×51Net Worth = 1,00,000+1,20,000+90,000=3,10,000Goodwill = 4,50,000-3,10,000=1,40,000Z's share=1,40,000×15=28,000 (shared between X and Y in 3:2)X's share=28,000×35=16,800Y's share=28,000×25=11,200

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Solve this: 10. X and Y are partners sharing profit in the ratio of have capitals of RS. 100000 & respectively. Z is admitted with 1/5 share in the profit. Z brines Rs. 90000 as his snare capital. Give journal entry to record goodwill. 11. Total capital of A & B is Rs. 250000 and the market rate of interest is 10%. Partners are entitled to receive remuneration for the year 2008, 2009, 2010, & 2012 were 80000, 90000, 70000 & 105000 respectively. Goodwill is to be valued at 3 year's purchase of last 5 years super profit. Calculate the goodwill. 12.X , Y and Z are partner sharing profit is the ratio of 5:3:2. On 01.04.2017 they decided to share the profits in the Ratio of On the date following balances were appearing in the balance sheet. profit & loss (Cr.) General reserve Deffecet revenue expenditure 15000 50000 10000 Partners decided to value the goodwill of Rs. 50000 due to change in Ratio they decided not to show the goodwill & nor want to distribute the reserve pass necessary adjustment entry. 13.C& D are partner with profit sharing Ratio of 3:2. They admit A, Their manager as a partner w.e.f 01.04.2012 giving % share of profit. A as a manages was earning a salary of 54000 p.a. and a commission of 0% Of N.P after clearing salary & commission it was decided that any excess amount which will be entitled to receive as a partner over manager would be borne 6 bv C personally. Show p & C appropriation if net profit is 450000. 14. Fill the missing information of A, B & C who were earlier sharing profit in the Ratio of but now decided to share future profit in the ratio of Revaluation account 6 Particular TO Debtor A/c To Profit t/f Capital c 3500 particulars By Creditors A/c Bv Building A/c Cr 14000 15425

Hi Johny,

We are providing you with the answer for Q.10. Please post the other questions in separate threads.

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

	Z’s Capital/Current A/c	Dr.		28,000
	To X’s Capital A/c				16,800
	To Y’s Capital A/c				11,200
	(Goodwill adjusted through Z’s Capital/Current A/c)

Working Notes:

Z' s Capital = 90, 000 for \frac{1}{5} th share ​ Total Capital of Firm (on the basis of Z' s Capital) = 4, 50, 000 (90, 000 \times \frac{5}{1}) Net Worth = 1, 00, 000 + 1, 20, 000 + 90, 000 = 3, 10, 000 Goodwill = 4, 50, 000 - 3, 10, 000 = 1, 40, 000 Z' s share = 1, 40, 000 \times \frac{1}{5} = 28, 000 (shared between X and Y in 3 : 2) X' s share = 28, 000 \times \frac{3}{5} = 16, 800 Y' s share = 28, 000 \times \frac{2}{5} = 11, 200

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