14 :- 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 Rs 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3:2. Pass necessary journal entries.
Solution :-
WORKING NOTES :-
(a) Calculation of gaining/sacrificing share
New ratio – old ratio
Aparna = 3/5 – 3/6 = 3/30
Sonia = 2/5 – 1/6 = 7/30
Gaining ratio = 3:7
(b) Calculation of their share of goodwill
Manisha = 1,80,000 x 2/6 = Rs 60,000 (credit)
Aparna = 1,80,000 x 3/30 = Rs 18,000 (debit)
Sonia = 1,80,000 x 7/30 = Rs 42,000 (debit)