A and B are partners sharing profits in the ratio of 2:1. C is admitted for the 1/4th share of profits, who brings Rs.20,000 as capital. After all adjustments related to goodwill, revaluation of assets and reassessment of liabilities etc, Capital of A and B are Rs.45,000 and Rs.15,000 respectively. It is agreed that partners capitals should be according to the new profit sharing ratio.

Determine the new capital of B.

Plant and Machinery to be shown in Revaluation Account :

At the time of admission of a partner, assets are revalued and assessment of the liabilities is also done so that these are brought in the books at their correct values. For this purpose:

Which among the following is NOT true for New Profit Sharing Ratio:

From the above calculate amount of Goodwill :

As per AS-26 Intangible assets like goodwill should be written off.

Riya and Kiya are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 80,000 and Rs. 50,000 respectively. They admitted Siya on Jan. 1, 2025 as a new partner for 1/5th share in the future profits. Siya brought Rs. 60,000 as his capital and the necessary amount of goodwill. Calculate Siya's share of goodwill.