Partnership

Admission

Medium

common

A and B are partners sharing profits in the ratio of 4:3. C was admitted as a new partner for 1/4 share in the future profits of the firm. What would be the new profit sharing ratio of A, B and C?

4:3:1

12:9:4

3:9:1

12:9:7

✅ Correct Option: 4

C takes $\frac{1}{4}$ ; the remaining $\frac{3}{4}$ is shared by A and B in $4:3$ .

A $= \frac{3}{4} \times \frac{4}{7} = \frac{12}{28}$ , B $= \frac{9}{28}$ , C $= \frac{7}{28}$ .

New ratio $= 12:9:7$ .

2026: 23 May Shift 2

Match the LIST-I with LIST-II

LIST-I		LIST-II
A.	Sacrificing ratio	I. New ratio - Old ratio
B.	Gaining ratio	II. Credit Side of Revaluation A/c
C.	Undervaluation of Stock	III. Old ratio - New ratio
D.	Overvaluation of Stock	IV. Debit Side of Revaluation A/c

Choose the correct answer from the options given below:

2025: 15 May Shift 2

Which of the following is not one of the method of valuation of goodwill?

2025: 13 May Shift 2

Arrange in correct sequence at a time of admission of partner-

(A) Adjustments of capital accounts.

(B) Valuation of goodwill

Choose the correct answer from the options given below:

2022: 23 Aug Shift 2

What would be the new Profit Sharing Ratio :

2025: 3 June Shift 2

Ranjan and Anjan were Partners in a firm sharing profits and losses in 3:2. they admitted Sanjan for 1/4 share of profit on 1 Jan 2024.

Goodwill of the firm will be valued at 3 years purchase of average profit of last 4 years which were

2024: Rs. 80,000

2023: Rs. 1,40,000.

2022: Rs. 2,00,000

2021: Rs. 1,60,000

The goodwill of the reconstituted firm will be

2026: 21 May Shift 1

Match List-I with List-II

List-I	List-II
(A) In this method, the person who purchases a running business must pay in the form of goodwill, a sum which is equal to the profits he is likely to receive for the first few years.	(I) Capitalised value of business
(B) It is desirable to value goodwill on the basis of the excess profits and not the actual profits.	(II) Goodwill
(C) Average Profits × 100/Normal Rate of Return	(III) Super Profit Method
(D) Capitalised value – Net Assets	(IV) Average profit Method

Choose the correct answer from the options given below:

Solution