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Multiple Choice Questions

Asha and Nisha are partners sharing profits in the ratio of 2 1 Asha 39 s son Ashish was a...........

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Asha and Nisha are partners sharing profits in the ratio of 2:1. Asha's son Ashish was admitted for 1/4th share of which 1/8th was gifted by Asha to her son. The remaining was contributed by Nisha. Goodwill of the firm is valued at rs80,000. How much of the share of premium of goodwill will be credited to the old partners' capital account if Ashish

brings his share of premium for goodwill in cash?

rs5,000 each

rs 10,000 each

rs40,000 each

None of these

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Explanation:

- Asha and Nisha share profits in the 2:1 ratio.

- Ashish, Asha's son, was admitted with a 1/4th share.

- Asha gifts 1/8th of her share to Ashish.

- Nisha contributes to the remaining share Ashish receives.

- The total goodwill of the firm is Rs 80,000.

- Goodwill premium is needed for the new partner's share.

Calculation for Goodwill Premium:

- Ashish’s 1/4th share of goodwill = Rs 80,000 x 1/4 = Rs 20,000.

- Gifted by Asha = 1/8 of total share

- Remaining 1/8 from Nisha.

Sacrifising ratio = 1:1

Distribution:

- Asha and Nisha share the Rs 20,000 premium equally.

- Correct Option: Option 2 - Rs 10,000 each:

- Rs 10,000 to Asha

- Rs 10,000 to Nisha

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