The following is the extract from the balance sheet of the firm with A, B and C as partners as on 31st march 2025.

Creditors	Rs. 10,000
Machinery	Rs. 20,000
Stock	Rs. 12,000
Building	Rs. 55,000

C retired from the firm and the following are the adjustments related to revaluation :

i. Stock to be valued at 92% of its book value.

ii. Value of building is to be appreciated by 20%.

iii. Creditors of Rs 2,000 are no longer payable.

Choose which of the following statements is true:

A. Stock A/c of Rs 960 is to be shown on the debit side of the revaluation account.

B. Stock A/c of Rs 960 is to be shown on the credit side of the revaluation account.

C. Creditors A/c of Rs 2,000 is to be shown on the credit side of the revaluation account.

D. Creditors A/c of Rs 2,000 is to be shown on the debit side of the revaluation account.

Choose the correct answer from the options given below:

The retiring partner is entitled to his share of goodwill at the time of retirement because goodwill has been earned by the firm through the efforts of all existing partners. If goodwill does not appear in the firm's books of accounts, the correct journal entry for treatment of goodwill in this case is:

R, S and K are partners sharing profits in the ratio 8:6:4. On the retirement of R, the new profit sharing ratio between S and K was decided to be 5:3. The Gaining ratio is -

In the absence of any information regarding the acquisition of share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in:

Aditya, Biral and Mukul are partners in a firm. On the date of retirement of Mukul, Rs. 6,00,000 becomes due to him. Aditya and Biral promised to pay him the amount due. Payment is made in three yearly installments of Rs. 2,00,000 each including interest @ 12% p.a. on the outstanding balance during the first three years and the balance including interest in the fourth year. Opening balance of Mukul's loan account in the beginning of second year, third year, and fourth year would be:

Hanny, Pammy and Sunny are partners sharing profits in the ratio of 3 : 2 : 1. Goodwill is appearing in the books at a value of Rs. 60,000. Pammy retires and at the time of Pammy's retirement, goodwill is valued at Rs. 84,000. Hanny and Sunny decided to share future profits in the ratio of 2:1. Pammy's share of current value of goodwill is-

Rubina and Mukta were partners sharing profits & losses equally. As per the partnership agreement, the share of profit of the deceased partner will be worked out on the basis of sales, and specified that the sales during the year 2024-25 were Rs. 9,00,000, and profit for same period was Rs.3,00,000 and the sales from April 1, 2025 - September 30, 2025 were Rs. 1,50,000 Rubina died on September 30, 2025. Calculate Rubina's share of profit.