Akash, Bhupesh, and Charan are partners in a firm sharing profits in the ratio of 3:2:1. Bhupesh retired and goodwill of the firm was valued at Rs. 60,000. Akash and Charan continue the business, sharing profits in the ratio of 3:1. What will be the journal entry for adjustment of goodwill in this case?

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Akash's Capital A/c Dr.		15,000
	Charan's Capital A/c Dr.		5,000
	To Bhupesh's Capital A/c			20,000

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Goodwill A/c Dr.		20,000
	To Bhupesh's Capital A/c			20,000

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Bhupesh's Capital A/c Dr.		20,000
	To Akash's Capital A/c			15,000
	To Charan's Capital A/c			5,000

Date	Particulars	L.F.	Dr. Amount	Cr. Amount
	Bhupesh's Capital A/c Dr.		20,000
	To Goodwill A/c			20,000

X, Y and Z are partners in the ratio of $\frac{1}{2}:\frac{2}{5}:\frac{1}{10}$. What will be the new ratio of the remaining partner if X retires?

In the absence of any information regarding the acquisition of share in profit of the deceased partner by the remaining partners, an assumption is made that they will acquire his share in-

Asha, Deepa and Lata are partners in a firm sharing profits in the ratio of 3 : 2 : 1. Deepa retires. After making all adjustments relating to revaluation, goodwill, Payment to Deepa and accumulated profit etc., the capital accounts of Asha and Lata showed a credit balance of Rs. 1,60,000 and Rs. 80,000 respectively. It was decided to adjust the capitals of Asha and Lata in their new profit sharing ratio. You are required to calculate the new capitals of the partners i.e Asha and Lata.

The sum due to the retiring partner includes :

(A) His share of profits up to the date of retirement.

(B) His share of goodwill;

(C) His share of accumulated profits ;

(D) His share in the gain of revaluation of assets and liabilities;

Choose the correct answer from the options given below:

Arrange the various accounting aspects involved on retirement or death of a partner-

(A) Ascertainment of share of profit or loss up to the date of retirement/death

(B) Ascertainment of new profit sharing ratio and gaining ratio

(C) Distribution of accumulated profits and losses

(D) Settlement of the amounts due to retired/deceased partner

Choose the correct answer from the options given below:

1. (B), (C), (D), (A)
2. (B), (C), (A), (D)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

A, B and C are partner's sharing profits and losses in the ratio of $\frac{3}{8} : \frac{1}{2} : \frac{1}{8}$.

If A dies, then the new ratio of B and C will be :