At the time of admission of new partner Vasu, old partners Paresh and Prabhat had debtors of Rs. 6,20,000 and a provision for doubtful debts of Rs. 20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worh Rs. 15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation?

When goodwill has to be inferred from the arrangement of capital and profit sharing ratio, it is called.

Riya and Kiya are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 80,000 and Rs. 50,000 respectively. They admitted Siya on Jan. 1, 2025 as a new partner for 1/5th share in the future profits. Siya brought Rs. 60,000 as his capital and the necessary amount of goodwill. Calculate Siya's share of goodwill.

For transferring the revaluation loss, which of the following is correct ?

Excess value of net assets over purchase consideration at the time of purchase of business is credited to

From the above calculate amount of Goodwill :

A and B are partners sharing profits in the ratio of 3:2. They admit C for 1/5th share in the future profits which he gets equally from both A and B. The new profit sharing ratio will be: