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Question -

Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3:2:1. Manisha retires and goodwill of the firm is valued at Rs 1,80,000. Aparna and Sonia decided to share future in the ratio of 3:2. Pass necessary Journal entries.



Answer -

 Books of Aparna, and Sonia

 

Journal

 

 

Date

Particulars

L.F.

Amount

Rs

Amount

Rs

 

Aparna’s Capitals A/c

Dr.

 

18,000

 

 

Sonia’s Capital A/c

Dr.

 

42,000

 

 

To Manisha’s Capital A/c

 

 

 

60,000

 

(Manisha’s share of goodwill adjusted to Aparna’s and

Sonia’s Capital Account in their gaining ratio )

 

 

 
Working Notes:
1. Manisha’s share in goodwill:
Total goodwill of the firm × Retiring Partner’s Share = 
2. Gaining Ratio = New Ratio − Old Ratio
Aparna Gaining share  
 
Gaining Ratio between Aparna and Sonia = 3 : 7
3. Aparna’s share in goodwill 
Sonia’s share in goodwill  

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