The ratio in which the old partners agree to sacrifice their share of profit in favour of the incoming partner is called sacrificing ratio. Identify the correct statements regarding sacrificing ratio.

(A) Sacrifice by a Partner = New Share of Profit – Old Share of Profit

(B) This ratio is calculated for all the partners i.e. old and incoming

(C) The ratio is normally clearly given as agreed among the partners, which could be the old ratio, equal sacrifice, or a specified ratio

(D) Sacrifice by a Partner = Old Share of Profit – New Share of Profit

Choose the correct answer from the options given below:

Anil and Uday are partners sharing profits equally. Arvind is admitted as a new partner. He brings Rs. 1,00,000 only out of his share of goodwill of Rs. 1,50,000. In this situation the journal entries will be:

The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. A will bring in cash as capital after adjustment amount:

A, B and T are partners in a firm sharing profits in the ratio of 3:2:1. Z is admitted into the firm for 1/4 share in profits, which he gets as, 1/8 from A and 1/8 from B. The total capital of the firm is agreed upon as Rs. 1,20,000 and Z is to bring in cash equivalent to 1/4 of this amount as his capital. The capitals of other partners are also to be adjusted in the ratio of their respective shares in profits. The capitals of A, B and T after all adjustments, are Rs. 40,000, Rs. 35,000 and Rs. 30,000 respectively. Calculate the cash brought in or paid to each partner.

Match List - I with List - II.

Choose the correct answer from the options given below :

Goodwill can also be ascertained by capitalising the super profit directly under which method?

Any change in the profit sharing ratio among existing partners may not involve adjustments in respect of: