Abhishek and Balkishan are partners sharing profits in the ratio of 2:1. Chandrika is admitted into the firm for 1/4 share of profits. Chandrika brings in Rs. 20,000 in respect of her capital. The capitals of the old partners Abhishek and Balkishan, after all adjustments relating to goodwill, revaluation of assets and liabilities, etc., are Rs.45,000 and Rs.15,000 respectively. Calculate the cash to be brought in or paid off by the old partners to adjust their capitals in new ratio.

Revaluation Account is :-

Choose the correct sequence of steps related to admission of a new partner.

(A) Prepare Revaluation Account.

(B) Prepare Balance Sheet.

(C) Calculation of sacrificing ratio.

(D) Prepare Partners' Capital Account.

Choose the correct answer from the options given below:

Which of the following would affect the Revaluation Account at the time of admission of a partner?

Ajay and Bharat are partners in a firm. Their profit sharing ratio is 3:2. They admitted Chetan for 25% share of profit. Building is to be depreciated by 20% (Book Value Rs. 50,000) and the machinery would be appreciated by 10% (Book Value Rs. 40,000), an unrecorded Debtor of Rs. 1000 would be brought into the firm's books. What was Bharat's share of revaluation profit/loss :-

When a new partner is entered into firm, goodwill already appeared in books of accounts of firm, should be written off in which of the following.

On the admission of a new partner, an increase in the value of assets is debited to: