The ratio in which the continuing partners have acquired the share from the retiring/deceased partner is called the:

A, B and C are partners in a firm sharing profits in the ratio of 3:2:1. Firm is maintaining fixed capital accounts. B retired and the value of goodwill of the firm is valued at Rs. 1,80,000.

The journal entry for adjustment of goodwill will be :

The ratio in which the continuing partners have acquired the share from the retiring/deceased partner is called:

Executor account is prepared on

Rana, Sana and Kamana are partners, sharing profits in the ratio 4:3:2. Rana retires; Sana and Kamana decided to share profits in the future in the ratio of 5:3. The Gaining Ratio of Sana and Kamana will be

A, B, C were partners in a partnership firm their profit sharing ratio was 5:3:2. B retires and the new profit sharing ratio between A and C was 3:2. Calculate gaining ratio.

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 _____