Arrange the following statements in proper sequence in context of admission of partner.

A. Finalising terms for admission of new partner

B. Calculation of sacrificing/ gaining ratio

C. Finalising balance in partner's capital A/c

D. Calculation of new profit sharing ratio

E. Valuation and adjustment of goodwill

Choose the correct answer from the options given below:

At the time of admission of a new partner, general reserve appearing in the old balance sheet is transferred to:

Arrange the steps in the correct sequence while calculating goodwill by capitalization of average profit method:

(A) Ascertain the actual firm's capital (net assets)

(B) Compute the value of goodwill

(C) compute the capitalized value of the average profits

(D) Ascertain the average profits

Choose the correct answer from the options given below:

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Match List-I with List-II

Choose the correct answer from the options given below:

When a new partner is entered into firm, goodwill already appeared in books of accounts of firm, should be written off in which of the following.

Ajay, Bijoy and Payal are partners in a firm sharing profits in the ratio of 3:2:1. Sunil is admitted into the firm for 1/4 share in profits, which he gets as 1/8 from Ajay and 1/8 from Bijoy. The total capital of the firm is agreed upon as Rs. 1,20,000 and Sunil is to bring in cash equivalent to 1/4 of this amount as his capital. The new profit sharing ratio of Ajay, Bijoy, Payal and Sunil will be: