A, B and C are partners sharing profits and losses in the ratio 6:3:3, they agreed to take D into partnership for 1/8th share of profits. Find the new profit sharing ratio.

X and Y are partners sharing profits in the ratio of 3: 1. They admit Z as a partner who pays Rs.4,000 as Goodwill the new profit sharing ratio being 2:1: 1 among X, Y and Z respectively. The amount of goodwill will be credited to:

A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement, A and C decides to share profits equally. They had taken a Joint Life Policy of Rs.2,50,000 with the surrender value Rs.50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy premium is fully charged to revenue as and when paid?

A, B and C takes a Joint Life Policy, after five years B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement, A and C decides to share profits equally. They had taken a Joint Life Policy of Rs.2,50,000 with the surrender value Rs.50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy premium is fully charged to revenue as and when paid?

  A, B and C take a Joint Life Policy, after five years, B retires from the firm. Old profit sharing ratio is 2:2:1. After retirement A and C decides to share profits equally. They had taken a Joint Life Policy of Rs.2,50,000 with the surrender value Rs.50,000. What will be the treatment in the partner’s capital account on receiving the JLP amount if joint life policy is maintained at the surrender value?

A, B and C are partners sharing profits in the ratio 2:2:1. On retirement of B, goodwill was valued as Rs.30,000. Find the contribution of A and C to compensate B.

A, B and C were partners in a firm sharing profits and losses in the ratio of 2:2:1 respectively with the capital balance of Rs.50,000 for A and B, for C Rs.25,000. B declared to retire from the firm and balance in reserve on the date was Rs.15,000. If goodwill of the firm was valued as Rs. 30,000 and profit on revaluation was Rs.7,050 then what amount will be transferred to the loan account of B.

A, B and C are partners sharing profits and losses in the ratio of 3:2:1. C retires on a decided date and Goodwill of the firm is to be valued at Rs.60,000. Find the amount payable to retiring partner on account of goodwill.

A, B and C were partners sharing profits and losses in the ratio of 3:2:1. A retired and Goodwill of the firm is to be valued at Rs.24,000. What will be the treatment for goodwill?

In the absence of proper agreement, representative of the deceased partner is entitled to the Dead partner’s share in

   R, J and D are the partners sharing profits in the ratio 7:5:4. D died on 30th June 2022 and profits for the accounting year 2021-2022 were Rs.24,000. How much share in profits for the period 1st April 2022 to 30th June 2022 will be credited to D’s Account.

Revaluation account is prepared at the time of

If three partners A, B & C are sharing profits as 5:3:2, then on the death of a partner A, how much B & C will pay to A’s executer on account of goodwill. Goodwill is to be calculated on the basis of 2 years purchase of last 3 years average profits. Profits for last three years are: Rs.3,29,000; Rs.3,46,000 and Rs.4,05,000.

If three partners A, B & C are sharing profits as 5:3:2, then on the death of a partner A, how much B & C will pay to A’s executer on account of goodwill. Goodwill is to be calculated on the basis of 2 years purchase of last 3 years average profits. Profits for last three years are: Rs.3,29,000; Rs.3,46,000 and Rs.4,05,000.

     Partnership could be dissolved because of

On the dissolution of partnership, profit or loss on realization of assets and liabilities should be divided among partners

An unrecorded asset realized at the time of dissolution is credited to

   A liability taken over by a partner at the time of dissolution is credited to

Realization account is a