Match the LIST-I with LIST-II

LIST-I		LIST-II
A. Increase in the value of each asset will be shown	I.	it indicates net gain, which will be transferred to the capital accounts of the old partners in old ratio.
B. If the closing balance of revaluation account shows a credit balance then	II.	it indicates net loss which will be transferred to the capital accounts of the old partners in old ratio.
C. Decrease in the value of each asset will be shown	III.	on credit side of Revaluation account
D. If the closing balance of revaluation account shows a debit balance then	IV.	on debit side of Revaluation account

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Under which method No. of Year's Purchase are not considered

$A$ 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

The books of a business showed that the firm's capital employed on December 31, 2015, is Rs. 5,00,000 and the profits for the last five years were: 2011–Rs. 40,000; 2012-Rs. 50,000; 2013-Rs. 55,000; 2014- Rs.70,000 and 2015-Rs. 85,000. Find out the normal profits of the business, given that the normal rate of return is 10%.

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

What journal entry will be passed for goodwill appearing in the books ?

Identify from the following when goodwill is required to be calculated. Change in profit sharing ratio

A. Change in profit sharing ratio

B. Admission of a partner

C. Dissolution of Partnership firm

D. Amalgamation of partnership firms

E. Preparation of Balance Sheet

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