Abhay and Sumant are partners sharing profit in the ratio of 2:1. Aakriti was admitted for 1/4 share, half of which was given by Abhay and the remaining was contributed by Sumant. The goodwill of the firm is valued at Rs. 40,000. How much of the goodwill will be credited to the old partner's capital account?

The amount of salary to be shown in the Dr. side of P & L Appropriation A/C will be:

Which of the following is not a factor affecting goodwill value of the firm ?

The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be……. .

The goodwill based on capitalization of average profit method is valued at Rs 1,80,000. If Net Assets are Rs 8,20,000 then find the capitalized value of average profits.

Valuation of Goodwill takes place on which of the following occasions:

A. Incorporation of a new business

B. Change in profit sharing ratio

C. Amalgamation of partnership firm

D. Admission of a partner

E. Dissolution of firm or closure of business

Choose the correct answer from the options given below:

The reserve fund at the time of admission of a new partner is transferred to -