{"id":46821,"date":"2024-04-15T22:17:56","date_gmt":"2024-04-15T22:17:56","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=46821"},"modified":"2024-04-15T22:17:56","modified_gmt":"2024-04-15T22:17:56","slug":"x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/","title":{"rendered":"X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;01:01&#8243; option2=&#8221;03:01&#8243; option3=&#8221;01:03&#8243; option4=&#8221;02:01&#8243; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is A. 1 : 1.<\/p>\n<p>The total amount of goodwill is Rs. 5000. X and Y are two equal partners and they will share the goodwill in the ratio of their existing capitals. The existing capitals of X and Y are equal and each of them has a capital of Rs. 10000. So, the ratio of goodwill to be shared by X and Y is 10000 : 10000 = 1 : 1.<\/p>\n<p>The amount of goodwill to be shared by Z is Rs. 5000. Since Z is to share the profits in the ratio of 2 : 1 with X and Y, he will get 2\/5 of the total goodwill. So, the amount of goodwill to be shared by Z is 2\/5 * 5000 = Rs. 2000.<\/p>\n<p>The amount of goodwill to be shared by X and Y is Rs. 5000 &#8211; Rs. 2000 = Rs. 3000. Since X and Y are to share the goodwill in the ratio of 1 : 1, they will each get 1\/2 of the goodwill. So, the amount of goodwill to be shared by X is 1\/2 * 3000 = Rs. 1500.<\/p>\n<p>The amount of goodwill to be shared by Y is also Rs. 1500.<\/p>\n<p>Therefore, the proportion of goodwill distribution between X and Y is 1 : 1.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;01:01&#8243; option2=&#8221;03:01&#8243; option3=&#8221;01:03&#8243; option4=&#8221;02:01&#8243; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-46821","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;01:01&#8243; option2=&#8221;03:01&#8243; option3=&#8221;01:03&#8243; option4=&#8221;02:01&#8243; correct=&#8221;option1&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T22:17:56+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/","og_locale":"en_US","og_type":"article","og_title":"X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:","og_description":"[amp_mcq option1=&#8221;01:01&#8243; option2=&#8221;03:01&#8243; option3=&#8221;01:03&#8243; option4=&#8221;02:01&#8243; correct=&#8221;option1&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T22:17:56+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/","url":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/","name":"X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-15T22:17:56+00:00","dateModified":"2024-04-15T22:17:56+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/x-and-y-are-two-equal-partners-in-a-firm-on-1st-january-2004-they-admitted-z-on-the-condition-that-he-will-bring-rs-10000-as-capital-and-rs-5000-as-goodwill-in-future-they-will-share-profits-in\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"accounting","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/accounting\/"},{"@type":"ListItem","position":4,"name":"X and Y are two equal partners in a firm. On 1st January, 2004 they admitted Z on the condition that he will bring Rs. 10,000 as capital and Rs. 5000 as goodwill. In future they will share profits in the ratio of 2 : 1 : 2. The proportion of goodwill distribution between X and Y will be:"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/46821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=46821"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/46821\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=46821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=46821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=46821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}