Kapil, Rahul and Virat are partners in a firm sharing profits in the ratio of 3:2:1. They decide to share future profits equally w.e.f April 1, 2025. Calculate the gaining/sacrificing share of partners.

When goodwill has to be inferred from the arrangement of capital and profit sharing ratio, it is called.

"Sometimes a partner is admitted into the firm with a guarantee of a certain minimum amount by way of their share in the profits of the firm." Identify which of the following is incorrect about such assurance.

Mohit, Neeraj and Sohan are partners in a firm sharing profits in the ratio of 2 : 1 : 1. Neeraj retires and Mohit and Sohan decided that the capital of the new firm will be fixed at Rs. 1,20,000 and D is to bring in cash equivalent to 1/4th of this amount as his capital. The capital accounts of Mohit and Sohan show a credit balance of Rs. 82,000 and Rs. 41,000 respectively after making all the adjustments. Calculate the actual cash to be paid off or to be brought in by the continuing partners in total-

At the time of admission of a new partner, goodwill is adjusted because:

Amit and Beena are partners in a firm sharing profits in the ratio of 3:2. They admit Chitra as a new partner. Amit sacrificed 1/4 of his share and Beena 1/3 of her share in favour of Chitra. The new profit sharing ratio of Amit, Beena and Chitra will be:

When a new partner is entered into firm, goodwill already appeared in books of accounts of firm, should be written off in which of the following.