# Question 44 Chapter 5 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question No.44 Chapter No.5 - T.S. Grewal +2 Book 2019-Solution

Question 44 Chapter 5 of +2-A

44. Vinay and Naman are partners sharing profits in the ratio of 4 : 1. Their
capitals were 90,000 and 70,000 respectively. They admitted Prateek for 1/3 share in the profits. Prateek brought 1,00,000 as his capital. Calculate the value of firm’s goodwill.

## The solution of Question 44 Chapter 5 of +2-A: –

Total Capital of the firm on the Basis of Prateek’s Capital

Total Capital of the firm = Prateek’s Capital  * Reciprocal of his share

 = 1,00,000 * 3 1 = 3,00,000

Actual Capital of Firm = Capital of Old Partners + Incoming Partner’s Capital

 = 90,000+ 70,000+ 1,00,000 = 2,60,000

 Goodwill = Total Capital of the firm on basis of Cs Capital – Actual Capital of Firm = 3,00,0000 -2,60,000 = 40,000

### T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
• Chapter No. 3 – Goodwill: Nature and Valuation
• Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 – Admission of a Partner
• Chapter No. 6 – Retirement/Death of a Partner
• Chapter No. 7 – Dissolution of a Partnership Firm

### T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
• Chapter No. 4 – Accounting Ratios
• Chapter No. 5 – Cash Flow Statement