Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3 : 2 : 1-Solution

Q.1 .Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3 : 2 : 1. Manisha retired and goodwill of the firm is valued at ₹ 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3 : 2. Pass necessary Journal entries.

SOLUTION

Books of Aparna, Manisha and Sonia

Journal

Date	Particulars		L.F.	Amount (Rs.)	Amount (Rs.)
	Aparna’s Capital A/c	Dr.		18,000
	Sonia’s Capital A/c	Dr.		42,000
	To Manisha’s Capital A/c				60,000
	(Being Manisha’s goodwill A/c adjusted to remaining partner aparna and sonia in his gaining ratio 3:7)

Working Notes:

WN1. Calculation of Retiring Partner Manshi's share of Goodwill

WN2. Calculation of Gaing ratio

Gaining ratio= New ratio-Old ratio

Aparna's share

Sonia's share

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