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.
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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