﻿ Class | CBSE | | | accounting for partnership:basic concepts | maintenance of capital accounts of partners |

# Zigya Join As

Working Notes:

1) Calculation of Sudha’s Share of Goodwill
Goodwill of Firm = Average profits x 2 years purchase of average profit
= 42,000 x 2 = 84,000
Sudha’s share of goodwill = 84000 * 3/10 =25,200

2) Interest on sudha’s capital = 60000 * 6 /100 * 3/12 = 900

3) Calculation of Sudha’s Share of profits
If sales = 4,00,000
Profit = 1,00,000
If sales is 1,  profit = 1,00,000  / 4,00,000
Profit = (1,00,000/4,00,000)  * 1,50,000 = 37,500
Sudha’s Share = 37500 x 3/10    =  11,250

Values Involved in the given scenario:
(1) Sympathy, empathy and helping orphans.
(2) Fulfilment of social responsibility

Q16 P1 Page -

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Working Notes:

1) Calculation of Sudha’s Share of Goodwill
Goodwill of Firm = Average profits x 2 years purchase of average profit
= 42,000 x 2 = 84,000
Sudha’s share of goodwill = 84000 * 3/10 =25,200

2) Interest on sudha’s capital = 60000 * 6 /100 * 3/12 = 900

3) Calculation of Sudha’s Share of profits
If sales = 4,00,000
Profit = 1,00,000
If sales is 1,  profit = 1,00,000  / 4,00,000
Profit = (1,00,000/4,00,000)  * 1,50,000 = 37,500
Sudha’s Share = 37500 x 3/10    =  11,250

Values Involved in the given scenario:
(1) Sympathy, empathy and helping orphans.
(2) Fulfilment of social responsibility

Q16 P1 Page -

Working Notes:

1) Calculation of Sudha’s Share of Goodwill
Goodwill of Firm = Average profits x 2 years purchase of average profit
= 42,000 x 2 = 84,000
Sudha’s share of goodwill = 84000 * 3/10 =25,200

2) Interest on sudha’s capital = 60000 * 6 /100 * 3/12 = 900

3) Calculation of Sudha’s Share of profits
If sales = 4,00,000
Profit = 1,00,000
If sales is 1,  profit = 1,00,000  / 4,00,000
Profit = (1,00,000/4,00,000)  * 1,50,000 = 37,500
Sudha’s Share = 37500 x 3/10    =  11,250

Values Involved in the given scenario:
(1) Sympathy, empathy and helping orphans.
(2) Fulfilment of social responsibility

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