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Admission of A Partner - Work Sheet No .1
Admission of A Partner - Work Sheet No .1
1. New Ratio
Q1. AB are partners in the ratio of 2:1.C is admitted for 1 / 4th share .
Find New ratio and Sacrificing ratio ?
Q.8 ABC 3:2:1 D comes in for 1/6th share and C retains his original share.
Find New ratio & Sacrificing ratio
Q1.AB 7:3. C comes for 3/7, Which he takes 2/7th from A and 1/7th from B. Find NR & SR
Q.2 AB 5:3.C is admitted for 1/6th share which C takes 1/24 from A & 1/8 from B.
Find New Ratio and Sacrificing Ratio ?
Q. 3 XY 3:2 Z is admitted for 1/5th share which he takes 1/10 from X and 1/10
from Y . Find New Ratio . NR 5:3:2
Q1. AB 7:3 A gives 1/10 of his share to C and B gives 1/10 of his share
to C. Find New Ratio
Q2.ABCin the ratio of 3:2:1 A gives 1 /2 of his share to D , B gives 1/3 of his share to D and
C gives 1/6th of his share to D. Find New Ratio
Q2.AB 3:2. C is admitted for 1/6th share which he acquired from A & B in the ratio of
2:1. Find New Ratio NR ABC 44: 31: 15
Q 3.Rana and Sona are partners 3: 2. Anna is admitted . Rana gives 1/3 of his share while Sona
gives 1/10 from his share. Find New ratio
Q.4 .AB 3:2. C and D are new partners. A gives 1/3rd of his share to C and B gives 1 / 2 of his
share to D. Find New Ratio
Q 5. XY 5:3 Z is admitted for 3/10th share of profits half of which was gifted by X & remaining
share was taken by Z equally from X & Y. Find New ratio
Q6. AB 5:3 They admit C & decide that the profit sharing ratio between B & C shall be same as
existing between A & B . Find new ratio .
II.GOODWILL
Admission Goodwill Adjustments
1.When old GW appears ( Given in Balance sheet )- Cancel in the old ratio
A Capital a/c Dr.
B Capital a/c Dr. Old Ratio
To Goodwill a/c
A. He brings his GW B. He brings partly C. He does not bring
New Partner brings his GW. New partner brings his share of NEW Partner does not
When Firm GW is given Goodwill Partly bring his Goodwill
His GW = Firm’s GW x New .
partners share GW is valued / GW is
created /GW is raised
2.New partner brings his 2. New partner brings his part 2 New partner
Goodwill and his Capital of GW and his capital does not bring his GW
and brings only his capital
Cash a/c Dr Cash a/c Dr.
To C’s Capital a/c To C capital Cash a/c Dr
To Premium for goodwill a/c To Premium for goodwill a/c To C Capital a/c
( His GW)
3.Transfer 3.Transfer 3.Transfer
Premium for Goodwill a/c Dr Premium for Goodwill a/c C Current a/ c Dr
To A Capital a/c Dr. C Current a/c Dr. To A Cap
To B Capital a/c SR (not brought) To B Cap SR
To A Capital
To B Capital SR
4.Withdraw : Optional
A Capital a/c Dr.
B Capital a/Dr.
To Cash a/c
50,000 Capital 50,000 Capital 50,000 Capital
He brings GW 10,000 GW 10,000 He Does not bring
He brings 6000 only GW 10,000
Goodwill
II . Goodwill
A. When new partner brings his goodwill
Q1.AB 3:2 . C is admitted for 1/6th share. C brings Capital `50,000 and his goodwill `10,000.
Pass Journals.
Q2.XY 2:1 Z 1 /4 .Z brings `15,000 capital & `6,000 as his Goodwill .Pass Journals.
Q3.ABC 5:3:2 D 1/12. D brings Goodwill `20,000 & Capital `80,000. Goodwill is withdrawn
by old partners . Goodwill appears in the balance sheet ` 40,000. Pass journals.
Q.4. X and Y in the ratio of 2:1. Z 1 / 3. Z brings `130,000 as capital and Goodwill .
His share of goodwill `30,000 . Partners withdrew the 1 / 2 of the goodwill.
Goodwill appears in the balance sheet `12,000. Pass journal .
Q5.AB 3:2 C 1/5. C brings his capital `30,000 and his share of Goodwill . Goodwill is
valued at `25,000. 1 / 4 of the goodwill is withdrawn by the partners Pass journals
Q6.AB 2:1 ; C 1/5 C brings `50,000 Capital & his Good will `10,500. GW appears `3,000 .
New ratio 3:1:1 A B withdraw 1 /2 of the Goodwill . Pass journals
Q7.AB 3:2 C is the new partner admitted for 3/13. New Ratio ABC 5:5:3 .C brings capital
`2,00,000 and his share of Goodwill. Goodwill is valued at ` 2,60,000. Goodwill appears
`5,00,000. 1 /4 of Goodwill withdrawn by old partners . Pass Journals
Q8.AB 2:3 C 1 / 4. NR 3:3:2. C brings Capital `300,000 and 1/3 of the Capital as his goodwill .
Pass Journals
Q7.AB 3:2 C 3/13. New Ratio ABC 5:5:3 .C brings capital `2,00,000 and his share of
Goodwill. Goodwill is valued at ` 2,60,000. Goodwill appears `5,00,000. 1 /4 of Goodwill
withdrawn by old partners . Pass Journals . *********
Q8.AB 2:3 C 1 / 4. NR 3:3:2. C brings Capital Rs. 300,000 and 1/3 of the Capital as his
goodwill .Pass Journals.
Q9. A B 3:2 C is admitted for 7 /25th share . A surrenders 1/5th of his shares and B surrenders
2/5th of his share . Goodwill is valued at `75,000. C brings `50,000 as capital and his share of
goodwill . Goodwill appears `30,000. ¼ of the goodwill withdrawn by partners .
Pass journals and Find New ratio
Q10.XY 3:2 Z 1/5 .This share contributed by X and Y in ratio of 2:3 Goodwill is valued at
`50,000 Z brings capital `30,000 and his goodwill . 50% of Goodwill withdrawn.
Find the New ratio , Sacrificing Ratio and Pass journal entries. XY capitals are fixed.
Q2.XY 3:2 .Z 1/6 He brings Rs.60,000 capital .Goodwill is valued at Rs.1,20,000. Pass journals
Q3.AB 4:3 C new partner . New ratio of ABC 7:4:3. C brings capital Rs. 80,000, Goodwill
valued at Rs.1,40,000 .Goodwill appears Rs70,000. Pass Journals.
Q1. AB 3:2 C 1/4 C brings his capital Rs. 40,000 and Rs. 18,000 as his Goodwill out of his
share of 30,000 . Good will appears 10,000 pass journals.
Q 2. A B 2:1 C 1 / 4. C brings Rs. 50,000 as his capital and Rs. 7,000 as his goodwill for the total
share of 12,000. Pass journals
Q3. AB3:2. ABC 5:3:2 , C capital 60,000 GW is valued at 50,000. C brings 60% of
Goodwill .Capitals are fixed . Goodwill appears. Rs.20,000. Pass Journals
Q2.AB 2:1 C 1/ 4 New Ratio 3:3:2 C brings his Goodwill Rs.1,50,000 and
Capital Rs. 100,000. Pass journals
Q3 . ABC 3:2:1 D 1/4 . D brings Rs.30,000 as his Goodwill & Rs.40,000 Capital
New ratio of A B C D 1:1:1:1 Pass journals .
Q4.XYZ 3:2:1 A 1/4 . NR 1:1:1:1 A brings Rs.1,00,000 as his capital & his required share of
goodwill .Goodwill is valued at Rs2,40,000. Goodwill appears Rs. Rs.60,000. Pass journals
Q. 5 AB 3:2 C &D new partners, bring Rs.2,00,000 capital each & bring their Good will.
Good will is valued at Rs.2,80,000 New Ratio 2:3:1:1. Pass Journals .
Method B – New partner brings part of the goodwill and SR Comes Negative
Q6. ABC 3:2:1 D New partner , NR 1:1:1:1 , D brings capital 50,000 and brings goodwill
Rs. 10,000 for Rs.15,000. Pass journals
Method C - New partner Does not bring goodwill and SR Comes Negative
Q7.XY 3:1 , Z new Partner for 1/3 , New Ratio 1:1:1 Z capital Rs. 50,000. GW is valued at
30,000. Pass Journals .
Mixed Q8.****
ABC 5:4:1. D & E are new partners .NR 3:4:2:2:1 (ABCDE) D & E brings Rs.40,000 capital
each. D brings Rs30,000 Goodwill but E is not able to bring Goodwill . Goodwill appears
Rs.1,00,000. Pass journals
Q9. AB equal partners having Capitals Rs.5,000 each .C comes for 1/4th share and he brings
8,000 as his capital. P/L Cr 5,000 DRE 1,000. Pass Journal for Goodwill
Q10. X and Y are partners having fixed capitals of Rs. 400,000 and Rs. 300,000.
Z admitted for 1/4 share and brings Rs. 400,000 capital and brings goodwill .
Calculate the value of goodwill and pass the necessary Journal
Q11. A B C are partners having capitals of Rs. 500,000 Rs. 300,000 and Rs. 200,000
D is admitted for 1/4 share and brings Rs. 500,000 Capital and does not bring goodwill .
Reserve fund Rs. 300,000 and Profit loss debit balance Rs. 100,000
Calculate the value of goodwill and pass the necessary Journal
New partner brought his goodwill and Capital in Kind -different form
Q 12. X and Y 3:2 . Z as a new partner 3/13th share . New Ratio 5:5:3. Z contributed the
following assets for his capital and premium .Cash Rs 50,000 Stock Rs. 80,000, Debtors Rs.
120,000,
Land Rs. 200,000, Plant and Machinery Rs. 120,000. Creditors Rs. 30,000.
On that date Goodwill is valued at Rs. 10,40,000. Pass Journals for admission .
Q 13. A and B 2:1 . C as a new partner joined for 1 /4 share . C contributed the following
assets for his capital .Cash Rs 150,000 Inventory Rs. 90,000, Receivable Rs. 100,000,
Land Rs. 300,000, Furniture Rs. 20,000. Payable Rs. 70,000 Expenses due Rs. 10,000.
He brings his share of goodwill Rs. 15,000 . Pass Journals for admission .
©David Thomas