C brings in capital proportionate to his share after all adjustments and rs 8000 for goodwill out of his share - Accountancy - Reconstitution- Admission of a Partner

Question

C brings in capital proportionate to his share after all
adjustments and rs 8000 for goodwill out of his share of rs 14000
In C is the new partner admitted, so what will be the entry for
this in partner's cap a/c Please explain also

Neha Chopra · Accepted Answer

Dear Student,

Since C brings only Rs 8,000 as goodwill out of his share of Rs
14,000 so for remaining share of Rs 6,000 his Capital A/c would be
debited Journal entry would be as follows:

Date
Particulars
L F
Amount (in
Rs)
Amount (in
Rs)

C's Capital
A/c
Dr
6,000

Cash
A/c
Dr
8,000

To Goodwill/Premium
for Goodwill A/c

14,000

(C brings Rs 8,000 as
goodwill & remaining share of Rs 6,000 adjusted from his
Capital A/c)

The total amount of Rs
14,000 would be credited to old partners in their sacrificing
Ratio

Regards,

Date	Particulars	L.F.	Amount (in Rs)	Amount (in Rs)
	C's Capital A/c	Dr	6,000
	Cash A/c	Dr	8,000
	To Goodwill/Premium for Goodwill A/c			14,000
	(C brings Rs 8,000 as goodwill & remaining share of Rs 6,000 adjusted from his Capital A/c)

C brings in capital proportionate to his share after all adjustments and rs 8000 for goodwill out of his share of rs 14000. In C is the new partner admitted, so what will be the entry for this in partner's cap a/c. Please explain also