X and Y are partners who share profit and loss in the ratio of 2 : 1, and who have capital balances (credit) of Rs. 40,000 and Rs. 30,000 respectively. If Z, with the consent of Y, acquired one-half of X’s interest for Rs. 25,000, for what amount would Z’s Capital Account be credited:

The correct answer is C. Rs. 15,000.

X and Y share profit and loss in the ratio of 2 : 1, so X’s capital balance is 2/3 of the total capital balance, and Y’s capital balance is 1/3 of the total capital balance. The total capital balance is Rs. 40,000 + Rs. 30,000 = Rs. 70,000. Therefore, X’s capital balance is 2/3 * Rs. 70,000 = Rs. 40,000.

Z acquired one-half of X’s interest for Rs. 25,000. This means that Z acquired 1/2 * Rs. 40,000 = Rs. 20,000 of X’s capital balance.

Z’s capital account would be credited with Rs. 20,000.

Here is a step-by-step solution:

1. Calculate X’s capital balance: X’s capital balance = 2/3 * Rs. 70,000 = Rs. 40,000
2. Calculate Z’s capital contribution: Z’s capital contribution = 1/2 * Rs. 40,000 = Rs. 20,000
3. Calculate Z’s capital account balance: Z’s capital account balance = Z’s capital contribution = Rs. 20,000