Lisa, Monika and Nisha are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Their capital A/c stood as Rs. 50,000, Rs. 50,000 and Rs. 25,000 respectively. Monika died and balance in the reserve on that date was Rs. 15,000. If goodwill of the firm is Rs. 30,000 and profit on revaluation is Rs. 7,050. What amount will be transferred to Monika's Executors Account ?

Naveen, Suresh and Tarun are partners, sharing profits and losses in the ratio of 5:3:2. Suresh retires from the firm and his share was acquired by Naveen and Tarun in the ratio of 2:1. Calculate the new share of profit :

At the time of retirement of a partner, arrange the following accounts in the correct sequence.

(A) Partners' Current A/c

(B) Revaluation A/c

(C) Balance Sheet

(D) Partners' Capital A/c

Choose the correct answer from the options given below:

On retirement, the retiring partner's capital account will be credited with :

(A) His/Her Capital Balance

(B) His/Her share of goodwill

(C) Share of goodwill of remaining partners

(D) his/her share of Reserve

(E) his/her drawings

Choose the correct answer from the options given below :

Naveen, Suresh and Tarun are partners sharing profits and losses in the ratio of 5:3:2. Tarun retires from the firm and his share was taken over by Naveen and suresh in the ratio 2:1. In such a case, the new profit sharing ratio will be:

The following is the extract from the balance sheet of the firm with A, B and C as partners as on 31st march 2025.

C retired from the firm and the following are the adjustments related to revaluation :

i. Stock to be valued at 92% of its book value.

ii. Value of building is to be appreciated by 20%.

iii. Creditors of Rs 2,000 are no longer payable.

Choose which of the following statements is true:

A. Stock A/c of Rs 960 is to be shown on the debit side of the revaluation account.

B. Stock A/c of Rs 960 is to be shown on the credit side of the revaluation account.

C. Creditors A/c of Rs 2,000 is to be shown on the credit side of the revaluation account.

D. Creditors A/c of Rs 2,000 is to be shown on the debit side of the revaluation account.

Choose the correct answer from the options given below:

Using the information given in above case study, Nimisha's sacrifice of goodwill will be :