A business has earned average profits of Rs. 5,30,000 during the last few years and the normal rate of return in a similar business is 10%. Ascertain the value of goodwill by capitalisation of average profits method, given that the value of net assets of the business is Rs. 30,00,000.

Dinesh, Ramesh and Suresh are partners in a firm sharing profits and losses in the ratio of 3:3:2. They decided to share the profits equally w.e.f. April 1, 2025. On that date, sundry debtors of Rs. 60,000 and stock of Rs. 1,20,000 appeared in the balance sheet. A provision of 5% on sundry debtors be made for doubtful debts. The value of stock be reduced to Rs. 1,12,000. The gain or loss on revaluation would be:

Which among the following is Not the method of valuation of goodwill:

Jitesh, Kamal and Lakhan are partners, sharing profits in the ratio of 3:2:1. Farhan is admitted in the firm for 1/6th share in profits. Lakhan would retain his original share. The new profit sharing ratio between Jitesh, Kamal, Lakhan and Farhan will be:

The new partner acquired the rights on admission into the firm. He acquires :

(A) Rights in past profits of firm before admission.

(B) Right to share in the future profits of the firm.

(C) Right to share assets of the firm.

(D) The right to carry on competing business.

Choose the correct answer from the options given below:

Creditors to be shown in Balance sheet after admission of partner will be :

A and B share profits in the ratio of 3:2. C was admitted as a partner who gets 1/5 share. New profit sharing ratio, if C acquires 3/20 from A and 1/20 from B, would be: