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

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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

DateParticularsL.F.
Amount
(Rs.)
Amount
(Rs.)
Aparna’s Capital A/cDr.18,000
Sonia’s Capital A/cDr.42,000
     To Manisha’s Capital A/c60,000
(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

aparna, manisha and sonia

WN2. Calculation of Gaing ratio

Gaining ratio= New ratio-Old ratio

aparna, manisha and sonia

Aparna's share
aparna, manisha and sonia





Sonia's share
aparna, manisha and sonia




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