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Ram and Shyam are partners in a firm with capital and respectively. They admitted Ganesh as a partner with share of profit. Ganesh brings as his capital. Ganesh’s share of goodwill will be ____.

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Detailed Solution

Here, we use formula:

Capital of ram is: Rs. 4,80,000
Capital of shyam is: Rs. 3,10,000
Capital of Ganesh is: Rs. 3,00,000
The share Ganesh has in the firm is:

Capitalized value of firm = (Incoming partners’ capital ×× Reciprocal of share of incoming partner) – (Total capital after taking into consideration the capital brought in by new partner)

Goodwill share of Ganesh will be:

We get:

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