Manas and Mili are partners in a firm sharing profits in the ratio of 3 : 2. Anita is admitted as a new partner for 1/4th share in future profits. Capitals of Manas and Mili were ₹ 3,00,000 and ₹ 1,50,000 respectively. Anita brought ₹ 2,00,000 as her capital. The value of goodwill of the firm on Anita's admission.

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₹ 1,50,000 Explanation: Anita brought capital for $\frac{4}{1}$th share = ₹ 2,00,000 Total capital of the firm = `₹ 2,00,000 xx $\frac{4}{1}$ = ₹ 8,00,000` Actual Total Capital of Manas, Mili and Anita `= ₹ 3,00,000 + ₹ 1,50,000 + ₹ 2,00,000` = ₹ 6,50,000 Value of Goodwill of Firm = Total Capital of Firm -Actual Total Capital = ₹ 8,00,000 - ₹ 6,50,000 = ₹ 1,50,000

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