Question 22 of 35
Q.A, B and C are partners sharing profits in the ratio of 2 : 2 : 1. On retirement of B, goodwill of the firm was valued as ₹ 30,000. Find the contribution of A and C to compensate B.
(a) ₹ 10,000 and ₹ 20,000
(b) ₹ 20,000 and ₹ 10,000
(c) ₹ 15,000 and ₹ 15,000
(d) ₹ 8,000 and ₹ 4,000
Puducherry TnboardTamil Nadu HSC (DGE) Commerce Board 2024MCQ· 1mImportance★★★★★
63% · 22/35 Questions
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Start your 14-day free trial to unlock the full solution →B's goodwill share = ₹12,000, shared by A and C in gaining ratio 2 : 1 → A ₹8,000, C ₹4,000.
In the TN HSC Class-12 Accountancy syllabus (Retirement and Death of a Partner), the retiring partner is compensated for his share of the firm's goodwill by the continuing partners, who bear it in their gaining ratio.
Given: A : B : C = 2 : 2 : 1; B retires; firm's goodwill = ₹30,000.
Step 1 — B's share of goodwill = 30,000 × (2/5) = ₹12,000.
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