Q10. Vikas and Rahul are partners who shares profits in the ratio of 2:3. They admitted Sunil as a p

Q: What is the correct answer for CUET UG Accountancy Q10?

The correct answer is B. Sacrificing Ratio = 2:3Vikas' share in goodwill = 37,500 × (2/5) = 15,000Rahul's share in goodwill = 37,500 × (3/5) = 22,500Since, half of goodwill is withdrawn by sacrificing partners:Vikas' Capital A/c Dr 7,500 (15,000 * 1/2)Rahul's Capital A/c Dr 11,250 (22,500 * 1/2)To Bank A/c 18,750

Q: Q10. Vikas and Rahul are partners who shares profits in the ratio of 2:3. They admitted Sunil as a partner for th share in future profits who brings 37,500 as his share of Goodwill. Half of which is…

The correct answer is B. Sacrificing Ratio = 2:3Vikas' share in goodwill = 37,500 × (2/5) = 15,000Rahul's share in goodwill = 37,500 × (3/5) = 22,500Since, half of goodwill is withdrawn by sacrificing partners:Vikas' Capital A/c Dr 7,500 (15,000 * 1/2)Rahul's Capital A/c Dr 11,250 (22,500 * 1/2)To Bank A/c 18,750

Q: What are the options for this CUET UG Accountancy question?

A. Premium for Goodwill A/c Dr 37,500 To Vikas's Capital A/c 15,000 To Rahul's Capital A/c 22,500 · B. Vikas's Capital A/c Dr 7,500 Rahul's Capital A/c Dr 11,250 To Bank A/c 18,750 · C. Bank A/c Dr 18,750 To Vika's Capital A/c 7,500 To Rahul's Capital A/c 11,250 · D. Vikas's capital A/c Dr 15,000 Rahul's Capital A/c Dr 22,500 To Bank 37,500

Question

Q10. Vikas and Rahul are partners who shares profits in the ratio of 2:3. They admitted Sunil as a partner for th share in future profits who brings 37,500 as his share of Goodwill. Half of which is withdrawn by sacrificing partners. Record Journal entry for Goodwill withdrawn by Partners.

FirstInTest · Accepted Answer

Sacrificing Ratio = 2:3Vikas' share in goodwill = 37,500 × (2/5) = 15,000Rahul's share in goodwill = 37,500 × (3/5) = 22,500Since, half of goodwill is withdrawn by sacrificing partners:Vikas' Capital A/c Dr 7,500 (15,000 * 1/2)Rahul's Capital A/c Dr 11,250 (22,500 * 1/2)To Bank A/c 18,750

Answer

Premium for Goodwill A/c Dr 37,500 To Vikas's Capital A/c 15,000 To Rahul's Capital A/c 22,500

Answer

Vikas's Capital A/c Dr 7,500 Rahul's Capital A/c Dr 11,250 To Bank A/c 18,750

Answer

Bank A/c Dr 18,750 To Vika's Capital A/c 7,500 To Rahul's Capital A/c 11,250

Answer

Vikas's capital A/c Dr 15,000 Rahul's Capital A/c Dr 22,500 To Bank 37,500

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