{"id":121404,"date":"2022-05-17T15:55:56","date_gmt":"2022-05-17T10:25:56","guid":{"rendered":"https:\/\/www.mapsofindia.com\/my-india\/?p=121404"},"modified":"2022-05-17T15:55:56","modified_gmt":"2022-05-17T10:25:56","slug":"suresh-ramesh-and-tushar-were-partners-of-a-firm-sharing-profits-in-the-ratio-of-654-ramesh-retired-and-his-capital-after-making-adjustments-on-account-of-reserves-revaluation-of-assets-and-reass","status":"publish","type":"post","link":"https:\/\/www.mapsofindia.com\/my-india\/education\/suresh-ramesh-and-tushar-were-partners-of-a-firm-sharing-profits-in-the-ratio-of-654-ramesh-retired-and-his-capital-after-making-adjustments-on-account-of-reserves-revaluation-of-assets-and-reass","title":{"rendered":"Suresh, Ramesh and Tushar were partners of a firm sharing profits in the ratio of 6:5:4. Ramesh retired and his capital after making adjustments on account of reserves, revaluation of assets and reassessment of liabilities stood at \u20b9 2,50,400. Suresh and Tushar agreed to pay him \u20b9 2,90,000 in full settlement of his claim. Pass necessary journal entry for the treatment of goodwill. Show workings clearly."},"content":{"rendered":"<h2>Suresh, Ramesh and Tushar were partners of a firm sharing profits in<br \/>\nthe ratio of 6:5:4. Ramesh retired and his capital after making<br \/>\nadjustments on account of reserves, revaluation of assets and<br \/>\nreassessment of liabilities stood at \u20b9 2,50,400. Suresh and Tushar<br \/>\nagreed to pay him \u20b9 2,90,000 in full settlement of his claim.<br \/>\nPass necessary journal entry for the treatment of goodwill. Show<br \/>\nworkings clearly.<\/h2>\n<h3>Answer.<\/h3>\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-121370 size-full\" src=\"https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/3-45.png\" alt=\"\" width=\"560\" height=\"116\" srcset=\"https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/3-45.png 560w, https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/3-45-150x31.png 150w, https:\/\/www.mapsofindia.com\/ci-moi-images\/my-india\/2022\/05\/3-45-300x62.png 300w\" sizes=\"auto, (max-width: 560px) 100vw, 560px\" \/><\/h3>\n<h3>Working Note:<br \/>\nRamesh\u2019s share of Goodwill= \u20b92,90,000 &#8211; \u20b92,50,400 = \u20b939,600<\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Suresh, Ramesh and Tushar were partners of a firm sharing profits in the ratio of 6:5:4. Ramesh retired and his capital after making adjustments on account of reserves, revaluation of assets and reassessment of liabilities stood at \u20b9 2,50,400. Suresh and Tushar agreed to pay him \u20b9 2,90,000 in full settlement of his claim. Pass [&hellip;]<\/p>\n","protected":false},"author":21830,"featured_media":121365,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-121404","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-education"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/121404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/users\/21830"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/comments?post=121404"}],"version-history":[{"count":1,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/121404\/revisions"}],"predecessor-version":[{"id":121405,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/posts\/121404\/revisions\/121405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/media\/121365"}],"wp:attachment":[{"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/media?parent=121404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/categories?post=121404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mapsofindia.com\/my-india\/wp-json\/wp\/v2\/tags?post=121404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}