Identify the correct sequence where new partner is to bring proportionate capital.

A. Calculation of Capital Balance of old partners

B. Preparation of Revaluation A/c

C. Determination of Revaluation gain/loss

D. Presentation of Treatment of Goodwill

E. Calculation of Capital to be brought in by the new partner

Choose the correct answer from the options given below:

A and B share profits in the ratio of 3:2. C was admitted as a partner who gets 1/5 share. New profit sharing ratio, if C acquires 3/20 from A and 1/20 from B, would be:

Excess value of net assets over purchase consideration at the time of purchase of business is credited to

At the time of admission of new partner Vasu, old partners Paresh and Prabhat had debtors of Rs. 6,20,000 and a provision for doubtful debts of Rs. 20,000 in their books. As per terms of admission, provision for doubtful debts is to be maintained on Sundry Debtors at a provision of 5%. How it will be shown in the balance sheet?

Match List-I with List-II

Choose the correct answer from the options given below:

A, B and T are partners in a firm sharing profits in the ratio of 3:2:1. Z is admitted into the firm for 1/4 share in profits, which he gets as, 1/8 from A and 1/8 from B. The total capital of the firm is agreed upon as Rs. 1,20,000 and Z is to bring in cash equivalent to 1/4 of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and T after all adjustments, are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the cash brought in or paid to each partner.

The ratio in which the old partners agree to give their share of profit in favor of the incoming partner is called: