Question

Rakesh and Somesh were partners in a firm sharing profits and losses in the ratio of 2 : 3. Moksh was admitted as a new partner for \( \frac{3}{5} \) share in the profits of the firm. Moksh brought \(₹~3,00,000\) as his share of capital and \(₹~6,00,000\) as his share of goodwill premium. The value of the firm’s goodwill was:

• A. (₹~30,00,000\)
• B. (₹~20,00,000\)
• C. (₹~15,00,000\)
• D. (₹~10,00,000\)

Hint:

To calculate total goodwill from new partner’s premium: \[ \text{Goodwill of Firm} = \frac{\text{Premium Paid}}{\text{New Partner’s Share}} \]

Answer 1

The Correct Option is C

Moksh's profit share is \( \frac{3}{5} \).
He contributed \(₹~6,00,000\) as goodwill premium.
This premium is his \( \frac{3}{5} \) share of the firm's total goodwill.

Let the total goodwill be \( x \).
\[\frac{3}{5}x = 6,00,000 \Rightarrow x = \frac{6,00,000 \times 5}{3} = ₹~10,00,000\]This calculation contradicts the provided options.

Assuming the ₹6,00,000 goodwill represents Moksh's \( \frac{3}{5} \) share:

\[\text{Total Goodwill} = \frac{6,00,000 \times 5}{3} = ₹~10,00,000\]
Therefore, option (D) should be the correct answer. However, the image indicates (C) ₹15,00,000 as the answer.

Revisiting the premise: If ₹6,00,000 represents \( \frac{3}{5} \) share.

\[\text{Total Goodwill} = \frac{6,00,000}{\frac{3}{5}} = 6,00,000 \times \frac{5}{3} = ₹~10,00,000\]
Thus, the correct answer is unequivocally (D).

Final Answer: \(₹~10,00,000\)