Vijay and Sanjay are partners in a firm sharing profits and losses in the ratio of 3:2. They admitted Ajay into partnership with 1/4th share in profits. Ajay brings in Rs. 30,000 for capital and the requisite amount of premium in cash for goodwill. The goodwill of the firm is valued at Rs. 20,000. The new profit sharing ratio is 2:1:1. The sacrificing ratio of Vijay and Sanjay is:

Anil and Uday are partners sharing profits equally. Arvind is admitted as a new partner. He brings Rs. 1,00,000 only out of his share of goodwill of Rs. 1,50,000. In this situation the journal entries will be:

Asif and Chinmay are partners in a firm sharing profits and losses in the ratio of 5:4. They decide to share future profits in the ratio of 2:3. At that time, the goodwill appearing in the books of the firm will be written-off in :

If the partners decide to withdraw the amount of premium for goodwill credited to their capital account, the following entry will be passed:

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.

Arrange the following steps for calculating Goodwill under Capitalisation of Average Profits Method in correct sequence-

(A). Ascertain the actual firm's capital (net assets) by deducting outside liabilities from the total assets.

(B). Compute the value of goodwill by deducting net assets from the capitalised value of average profits.

(C). Ascertain the average profits based on the past few years' performance.

(D). Capitalize the average profits on the basis of the normal rate of return to ascertain the capitalised value of average profits.

Choose the correct answer from the options given below:

For transferring the revaluation loss, which of the following is correct ?