If the furniture is shown as Rs. 15,000 in the balance sheet and is revalued at Rs. 12,000, then the journal entry for the same will be:

In a partnership, admission of a new partner is followed by retirement within two months but revaluation did not occur at either of the event. What is the most significant risk?

At the time of admission of a new partner, general reserve appearing in the old balance sheet is transferred to:

Arrange the following steps for calculation of goodwill using the Super Profit Method:

(A) Calculate goodwill by multiplying the super profits by the given number of years' purchase.

(B) Calculate the super profits by deducting normal profit from the average profits.

(C) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

(D) Calculate the average profit.

Choose the correct answer from the options given below:

Aman and Naman are partners. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Aman and 1/10 from Naman. The new profit sharing ratio of Aman, Naman and Jyoti is 4:3:3. Find the old ratio between Aman and Naman.

Navya and Nitya are partners sharing profits in the ratio 3 : 2, with capitals of ₹1,00,000 and ₹50,000 respectively. Hardik is admitted for a 1/5 share in profits, and is to bring in capital proportionate to his share, based on the combined capital of the firm after his admission. The amount Hardik will contribute as capital is:

Goodwill, if existing in the books of the firm, is written off at the time of admission of a partner, and is: