Question 21 Chapter 6 of +2- Part

Question 21 Chapter 6 of +2-Part-1

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 +2 Part-1: –

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

Comment if you have any questions.


Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

2 Book 1 min - Question 21 Chapter 6 of +2 Part-1 - USHA Publication 12 Class Part - 1
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

2 Comments

  1. Piyush

    June 22, 2021

    what is the formula of finding hidden goodwill

    1. Sarbjit Singh

      June 22, 2021

      Calculation of hidden goodwill = Value of the firm – Amount payable

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