# Question 23 Chapter 5 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-23. - CH-2 - Usha +2 Book 2018 - Solution

Question 23 Chapter 5 of +2-Part-1

23.(Goodwill partially withdrawn )A and B are partners in 3:2 ratio. They admitted C for 1/3 share. He brings Rs. 70,000 of which Rs. 40,000 in his capital and remaining amount in his goodwill. The old partners withdrew 50% of the share of goodwill. Record the transaction in Journal.

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## The solution of Question 23 Chapter 5 of +2 Part-1: –

 Journal Date Particulars L.F. Debit Credit i) Cash A/c Dr. 70,000 To C’s Capital A/c 40,000 To Premium A/c 30,000 (Being cash brought by D as capital and premium) ii) Premium A/c Dr. 30,000 To A’s Capital A/c 18,000 To B’s Capital A/c 12,000 (Being goodwill distributed among A and B in 3:2 sacrificing ratio) iii) A’s Capital A/c Dr. 9,000 B’s Capital A/c Dr. 6,000 To Cash A/c 15,000 (Being 50% of goodwill withdrawn by old partner)

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