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CBSE Class 12-commerce Answered

A and B are equal partners ,C is admitted for 1/8th share of profits.C brings Rs.50000 as capital and Rs. 15000 being half of the premium for goodwill.Ascertain the value of the Goodwill of the firm.
Asked by Shruti | 18 Jan, 2018, 06:06: PM
answered-by-expert Expert Answer
If a Partner is admitted for 1/8th Share in Firm and brings in Rs 15,000 as his share of Goodwill, that too 50% of his share. This means his share of Goodwill is Rs 30,000 for 1/8th Share. And the value of Goodwill of the firm is Rs 30,000 multiplied with reciprocal of share of C, i.e. 30,000 x 8 = Rs 2,40,000. 
Answered by | 19 Jan, 2018, 10:24: AM

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