The books of a business showed that the firm's capital employed on December 31, 2015, is Rs. 5,00,000 and the profits for the last five years were: 2011-Rs. 40,000; 2012-Rs. 50,000; 2013-Rs. 55,000; 2014- Rs.70,000 and 2015-Rs. 85,000. You are required to find out the normal profits of the business, given that the normal rate of return is 10%.

At the time of admission of partner ,Workmen Compensation Claim Exceeding Workmen Compensation Fund is 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:

A partner is admitted and the following steps are to be followed while calculating his share of goodwill. Arrange them in a sequence.

(A) Calculate new partner's share of goodwill

(B) Calculate total capital of the newly constituted firm

(C) Calculate actual capital of all the partners

(D) Calculate goodwill of the firm

Abhishek and Balkishan are partners sharing profits in the ratio of 2:1. Chandrika is admitted into the firm for 1/4 share of profits. Chandrika brings in Rs. 20,000 in respect of her capital. The capitals of the old partners Abhishek and Balkishan, after all adjustments relating to goodwill, revaluation of assets and liabilities, etc., are Rs.45,000 and Rs.15,000 respectively. Calculate the cash to be brought in or paid off by the old partners to adjust their capitals in new ratio.

At the time of admission of a new partner, if Profit and Loss Account debit balance exist in the books, then which of the following entry will be done in order to distribute it?

Goodwill brought by Suraj will be distributed as :