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:

Mahesh and Ramesh share profits and losses in the ratio of 2:1. They admit Rahul as a new partner with 1/4 share in profits with a guarantee that his share of profit shall be at least Rs. 25,000. The net profit of the firm for the year ending March 31, 2025 was Rs. 80,000. What amount will be borne by Mahesh for the deficiency of Rahul's guaranteed profit?

$A$ and $B$ are partners in a firm sharing profits in the ratio of $5:3$. They admit $C$ as a new partner for $\frac{1}{7}$th share in the profits. The new profit sharing ratio will be $4:2:1$. The sacrificing ratio of $A$ and $B$ is

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:

Which is the correct statement, in respect of the Revaluation Account :-

Which is not a method of valuation of goodwill

Under which method is the goodwill valued at agreed number of years' purchase of the average profits of the past few years?