Akash and Nitesh are partner's sharing profits in the ratio of 2:1. Kamlesh was admitted for 1/4 share, of which 1/8 was gifted by Akash. The remaining was contributed by Nitesh. The goodwill of the firm is valued at Rs. 1,60,000. How much amount of premium for goodwill will be credited to Nitesh's Capital Account?

Sudip and Sudipth are partners in a firm sharing profits in the ratio 2:1. Subhodh is admitted into the firm with 1/5 share in profits. He brings in Rs. 3,60,000 as capital and capitals of Sudip and Sudipth are to be adjusted in the profit sharing ratio. New capital of Sudip and Sudipth will be:

Which of the following is not a mode of reconstitution of a partnership firm?

R and S are partners in a firm sharing profits in the ratio of 5:3. They admitted B as a new partner for 1/7th share in the profit. The new profit sharing ratio will be 4:2:1. The sacrificing ratio of R and S is:

Which Factor does not Affect the Value of Goodwill-

The following steps are followed to ascertain average profit when goodwill is determined on the basis of super profit method. Arrange them in proper sequence.

(A) Ascertain super profit of the firm.

(B) Calculate goodwill of the firm on the basis of super profit.

(C) Ascertain average profit of the firm.

(D) Find out normal profit of the firm.

Choose the correct answer from the options given below:

Under which method is the goodwill valued at agreed number of years' purchase of the average profits of the past few years?