Admission of a Partner

. If at the time of admission, there is some unrecorded liability, it will be :

• (A) Debited to Revaluation Account

• (B) Credited to Revaluation Account

• (C) Debited to Goodwill Account

• (D) Credited to partners’ Capital Accounts

If the new partner brings his share of goodwill in cash, it will be shared by old partners in :

• (A) Ratio of sacrifice

• (B) Old profit sharing ratio

• (C) New profit sharing ratio

• (D) In Capital ratio

In case of admission of a partner, the entry for unrecorded investments will be:

• (A) Debit Partners Capital A/cs and Credit Investments A/c

• (B) Debit Revaluation A/c and Credit Investment A/c

• (C) Debit Investment A/c and Credit Revaluation A/c

• (D) None of the above

Goodwill of a firm of A and B is valued at ₹30,000. It is appearing in the books at ₹12,000. C is admitted for 1/4 share. What amount he is supposed to bring for goodwill?

• (A) ₹3,000

• (B) ₹4,500

• (C) ₹7,500

• (D) ₹10,500