P Q and R are sharing profits and losses equally R retires and the goodwill is appearing in the book...........

P, Q and R are sharing profits and losses equally. R retires and the goodwill is appearing in the books at Rs30,000. Goodwill of the firm is valued at . Rs1,50,000. Calculate the net amount to be credited to R’s Capital A/c.

Rs60,000

Rs50,000

Rs40,000

Rs10,000

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Explanation:

- The existing goodwill in the books is Rs30,000 and is shared equally among P, Q, and R.

- R's share of existing goodwill is Rs30,000 / 3 = Rs10,000.

- The goodwill of the firm is revalued at Rs1,50,000.

- R's share of the revalued goodwill is Rs1,50,000 / 3 = Rs50,000.

- The net amount to be credited to R's Capital A/c is R's share of revalued goodwill minus his share of existing goodwill: Rs50,000 - Rs10,000 = Rs40,000.

- Option 3: Rs40,000 is the correct answer.