Rohit and Shobit are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2025 they admit Nobit as a new partner. On that date, there was a balance of Rs. 80,000 in general reserve and a debit balance of Rs. 40,000 in the profit and loss account of the firm. Regarding adjustment of general reserve:

Match List-I with List-II

Choose the correct answer from the options given below:

The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be....... .

When a new partner is admitted, the undistributed profits that appear in the balance sheet of the old firm are transferred to the capital account of:

Sameer and Yasmin are partners with capitals of Rs 15,00,000 and Rs 10,00,000 respectively. They agreed to share profits in the ratio of 3:2. The books are closed on March 31, every year. They admit Ravi on October 1, 2019 in the partnership, who bring Rs 12,00,000 as capital and Sameer also introduced additional capital Rs 3,00,000 on that date. Interest on partner's capital is provided @5% p.a. The amount of interest on the capital of Sameer for the year 2019-20 is-

A newly admitted partner has the right to -

Identify the type of Goodwill that is to be recorded in accounts book according to Accounting Standard-26.