Usha and Disha are partners sharing profits in the ratio of 2:1. Usha's son Ashish was admitted for 1/4th share of which 1/8th was gifted by Usha to her son and the remaining was contributed by Disha. The goodwill of the firm is valued at Rs. 40,000. How much of the premium for goodwill will be credited to the old partners' capital account in case of admission of Ashish.

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-

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.

The steps involved in the calculation of goodwill under the super profit method are:

(A) Calculate goodwill by multiplying the super profit by number of years purchase.

(B) Calculate normal profit.

(C) Calculate Average Profit

(D) Calculate super profit.

Choose the correct answer from the options given below:

D will bring in cash as his capital:

Naveen and Ghanshyam are partners in a firm sharing profits in the ratio of 3:2. They admitted Daniel as a new partner for 1/4 share. The new profit sharing ratio between Naveen and Ghanshyam will be 2:1. Calculate the New profit sharing ratio of Naveen, Ghanshyam and Daniel :

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%.