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

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.


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C's Share totals 14,000. So out of this Share if Goodwill is 8,000, then his Share of Capital will be 6,000.

Entry for him bringing in his Capital & Goodwill Premium
Cash/Bank/Assets A/c ... Dr                             14,000
    To Premium for Goodwill A/c                                  8,000
    To C's Capital A/c                                                     6,000
(Being Premium for Goodwill & Capital brought in by the new partner)

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1st entry- cash  ...dr            
                  to c cap a/c
                  to premium for goodwill
2nd entry - ​premium for goodwill
                   c current a/c
                        to old partners cap a/c
in this current will be opened becoz capital adj is present 
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