Question no 3
Q.3
Regards
Sonali's Capital A/c | |||||
Date | Particulars | Amount (in Rs) | Date | Particulars | Amount (in Rs) |
Cash | Bal B/d | 150,000 | |||
Monika's Capital A/c | 160,000 | ||||
Malash's Capital A/c | 80,000 | ||||
Profit and Loss suspense A/c | 20,000 | ||||
Sonali's Executors A/c | 474,500 | Reserve Fund | 60,000 | ||
Interest on Capital (150,000 x 12% x 3/12) | 4,500 | ||||
474,500 | 474,500 |
Goodwill Adjustment | ||
Average profit of Last 4 Years | 200,000 | |
Goodwill @ 3years purchase | 600,000 | |
Share of Sonali | (6,00,000 x 2/5) | 240,000 |
Gaining Ratio | 2:1 | |
Goodwill Adjustment for Sonali from Capital A/cs of : | ||
Monika | (2,40,000 x 2/3) | 160,000 |
Malash | (2,40,000 x 1/3) | 80,000 |
Share of profit till death | ||
Average profit of Last 4 Years | 200,000 | |
Profit for 3 months | (2,00,000/12 x 3) | 50,000 |
Share of Sonali | (50,000 x 2/5) | 20,000 |
Regards