If at the time of admission, some positive balance of Profit and Loss A/C appears in the books, it will be transferred to:

A and B are partners sharing profits in the ratio of 3:2. They admit C for 1/5th share in the future profits which he gets equally from both A and B. The new profit sharing ratio will be:

Goodwill is considered as

Interest on capital will be shown on the Dr. side of Profit and Loss Appropriation A/c and ________ side of Partner's ________ A/c.

Consider the given steps of calculating the Value of Goodwill on the Basis of Capitalization of Super Profit and arrange them in correct sequence.

(A) Calculation of Super Profits

(B) Calculation of Capital Employed/Net Assets

(C) Calculation of Normal Profits and Average Profits

(D) Calculation of Capitalized value of Super Profit

Choose the correct sequence of the above steps from the options given below:

Sometimes the value of Goodwill is not given at the time of admission/retirement of a partner. In such a situation, it has to be inferred from capital and profit sharing ratio. such Goodwill is called

A and B are partners in a firm sharing profits in the ratio of 3:2. They admitted M as a new partner for 1/4 share. The new profit sharing ratio between A and B will be 2:1. Calculate their sacrificing ratio.