Sameer and Yasmin are partners with capitals of Rs 15,00,000 and Rs 10,00,000 respectively. They agreed to share profits in the ratio of 3:2. The books are closed on March 31, every year. They admit Ravi on October 1, 2019 in the partnership, who bring Rs 12,00,000 as capital and Sameer also introduced additional capital Rs 3,00,000 on that date. Interest on partner's capital is provided @5% p.a. The amount of interest on the capital of Sameer for the year 2019-20 is-

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:

When a new partner is admitted, the undistributed profits that appear in the balance sheet of the old firm are transferred to the capital account of:

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.

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?

Akash and Nitesh are partner's sharing profits in the ratio of 2:1. Kamlesh was admitted for 1/4 share, of which 1/8 was gifted by Akash. The remaining was contributed by Nitesh. The goodwill of the firm is valued at Rs. 1,60,000. How much amount of premium for goodwill will be credited to Nitesh's Capital Account?

A newly admitted partner has a right to: