Abha and Sara were partners in a firm. Their capitals were: Abha ₹ 3,00,000 and Sara ₹ 2,00,000. The normal rate of return in similar business is…

Abha and Sara were partners in a firm. Their capitals were : Abha ₹ $\displaystyle 3,00,000$ and Sara ₹ $\displaystyle 2,00$,000. The normal rate of return in similar business is $\displaystyle 10$%. The profits of the firm of Abha and Sara for the last three years were : $\displaystyle 2021$ $\displaystyle 22$ - ₹ $\displaystyle 60,000$ $\displaystyle 2022$ $\displaystyle 23$ - ₹ $\displaystyle 90,000$ and $\displaystyle 2023$ $\displaystyle 24$ - ₹ $\displaystyle 1,20,000$ Calculate goodwill of the firm on the following basis : (i) Four years purchase of the average profits for the last three years. (ii) Capitalisation of super-profits.

Vijay, Ravi and Raman were partners in a firm sharing profits and losses in the ratio of $\displaystyle 5$ : $\displaystyle 3$ : 2. On 1st April, $\displaystyle 2024$, they admitted $\displaystyle 1$ Kamal as a new partner for th share in the profits. It was decided that new profit sharing ratio will be $\displaystyle 4$ : $\displaystyle 2$ : $\displaystyle 3$ : 1. On Kan al's admission, the goodwill of the firm was valued at ₹ $\displaystyle 6,00$,000. Kamal brought his share of goodwill premium in cash. (i) Calculate the sacrificing ratio. (ii) Pass necessary journal entries for the treatment of goodwill on Kamal admission. 's Show your working notes clearly.