Arrange the following steps in the correct sequence after admission of a new partner:

(A) Revaluation of Assets and Liabilities

(B) Calculation of New Profit Sharing Ratio and Sacrificing Ratio

(C) Preparation of Balance Sheet

(D) Distribution of Accumulated Profits and Reserves in the capital accounts

Goodwill, if existing in the books of the firm, is written off at the time of admission of a partner, and is:

For the right to acquire share in the assets and profits of the partnership firm, the new partner brings:

Rajinder and Surinder are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2017, they admitted Narender as a new partner. On that date, there was a balance of Rs. 20,000 in general reserve and a debit balance of Rs. 10,000 in the profit and loss account of the firm. Which among the following statements is correct for transferring profit and loss account?

A business has earned average profits of Rs. 1,00,000 during the last few years and the normal rate of return in a similar business is 25%. Ascertain the value of goodwill by capitalisation of average profits method, given that the value of net assets of the business is Rs. 3,20,000.

Calculate the total amount brought in by new partner D including Goodwill share :

Which of the following is NOT a method of valuation of goodwill?