Multiple Choice Questions on Puneet and Deepak were in partnership sharing profits and losses in the ratio of 2 1 They admit........... for Commerce 12th Preparation

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Multiple Choice Questions

Puneet and Deepak were in partnership sharing profits and losses in the ratio of 2 1 They admit...........

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    Puneet and Deepak were in partnership sharing profits and losses in the ratio of 2 : 1.They admitted Manya as a new partner. Manya  brought rs1,00,000 as her share of goodwill premium, which was entirely credited to Puneet's capital account. On the date of admission, goodwill of the firm was valued at 3,00,000. The new profit sharing ratio of Puneet, Deepak and Manya will be:

    1:2:1

    Incorrect Answer

    1:1:1

    Correct Answer

    3:2:1 

    Incorrect Answer

    2:1:i

    Incorrect Answer
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    Explanation:

    - Puneet and Deepak originally shared profits in the ratio of 2:1.

    - Manya joined the partnership, bringing Rs.1,00,000 as her share of goodwill.

    - This goodwill amount was given only to Puneet, not to Deepak.

    - The total goodwill of the firm is valued at Rs.3,00,000.

    - Goodwill distribution suggests that Puneet's share of old ratio was reduced, compensated by Manya's payment.

    - To find the new profit-sharing ratio, factor in the original ratio and adjust Manya’s contribution.

    - Manya's admission likely leads to a redistribution, maintaining equality among partners.

    Option 2: 1:1:1 is the correct answer.

    By: santosh
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