Question

3 th 7 Vikas and Rahul are partners who shared profits in the ratio of 2:3. They admitted Sunil as a partner for share in future profits who brings ₹37,500 as his share of Goodwill. Half of which is withdrawn by sacrificing partners. Record Journal entry for Goodwill withdrawn by Partners.

• A. Premium for Goodwill A/c Dr 37,500
  To Vikas's Capital A/c -15,000
  To Rahul's Capital A/c -22,500
• B. Vikas's Capital A/c Dr 7,500
  Rahul's Capital A/c Dr 11,250
  To Bank A/c -18,750
• C. Bank A/c Dr -18,750
  To Vikas's Capital A/c -7,500
  To Rahul's Capital A/c -11,250
• D. Vikas's capital A/c Dr -15,000
  Rahul's Capital A/c Dr -22,500
  To Bank -37,500

Answer 1

Answer: (B)

Vikas's Capital A/c Dr 7,500
Rahul's Capital A/c Dr 11,250
To Bank A/c -18,750

Answer 2

The correct option is (B): Vikas's Capital A/c Dr 7,500
Rahul's Capital A/c Dr 11,250
To Bank A/c -18,750