Question 21 Chapter 6 of Class 12 Part – 1 Usha Publication

Question 21 Chapter 6 of Class 12 Part – 1 Usha Publication

21. (Hidden goodwill) X, Y and Z are partners in 2 : 3 :5 ratio. Z retires. His capital was Rs. 80,000 and profit from revaluation Rs. 60,000. However, continuing partners agreed to pay firm Rs. 1,90,000. Record necessary entry for goodwill.

The solution of Question 21 Chapter 6 of Class 12 Part – 1 Usha Publication: -

We are providing a solution of Question 21 Chapter 6 of Class 12 Part – 1 Usha Publication in two formats. one is in Video format and another is in article format. Check out both formats as follows:

1. Check out the Solution of this question in Video Format:-

The video consists solution of questions number 18 to 23 Chapter no. 6 class 12 of Usha publication. To check the direct solution of question no. 21 from the flowing video by using time stamps of the video.

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2. Check out the Solution of this question in Article Format:-

Calculation of hidden goodwill	=	Value of the firm – Amount payable
	=	Rs. [1,90,000- (80,000 + 60,000)]
	=	1,90,000 - 1,40,000
	=	Rs. 50,000
Hidden goodwill	=	Rs 50,000

Journal

Date	Particulars		L.F.	Debit	Credit
a)	X’s capital A/c	Dr.		20,000
	Y’s capital A/c	Dr.		30,000
	To Z’s capital A/c				50,000
	(Being goodwill adjusted through capital a/cs in gaining ratio i.e. 2 : 3)