Mahi and Rajat were in partnership sharing profits and losses in the ratio of 4: 3. They admitted Kripa as a new partner. Kripa brought Rs. 60,000 as her share of goodwill premium which was entirely credited to Mahi's Capital Account. On the date of admission, goodwill of the firm was valued at Rs. 4,20,000. Calculate the new profit-sharing ratio of Mahi, Rajat and Kripa. (CBSE 2020)

Mahi and Rajat were in partnership sharing profits and losses in the ratio of 4: 3. They admitted Kripa as a new partner. Kripa brought Rs. 60,000 as her share of goodwill premium which was entirely credited to Mahi’s Capital Account. On the date of admission, goodwill of the firm was valued at Rs. 4,20,000. Calculate the new profit-sharing ratio of Mahi, Rajat and Kripa. (CBSE 2020)

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SOLUTION

Kripa brought Rs. 60,000 as her share of goodwill premium
share of Kripa = 60,000 / 4,20,000 = 1 / 7 given by Mahi
Remaining share of Mahi = 4 / 7 – 1 / 7 = 3 / 7
New Ratio of –

Mahi	Rajat	Kripa
3 / 7	3 / 7	1 / 7

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