In case of admission of a new partner, Match the LIST-I with LIST-II.

LIST-I		LIST-II
A.	Increase in Assets	I. Debit side of Partners' Capital A/c
B.	Adjustment for Accumulated Profits and Losses A/c	II. Credit side of Revaluation A/c
C.	Increase in Liabilities	III. Credit side of Partners' Capital A/c
D.	Existing goodwill written off	IV. Debit side of Revaluation A/c

Choose the correct answer from the options given below.

A new partner can be admitted:

The journal entries recorded for revaluation of assets and reassessment of liabilities are given here, find the correct :

(A) For increase in the value of an asset

Asset A/c Dr.

To Revaluation A/c

(B) For reduction in the value of an asset

Revaluation A/c Dr.

Asset A/c

(C) For increase in the amount of a liability

Liability A/c Dr.

To Revaluation A/c

(D) For recording in the amount of a unrecorded liability

Revaluation A/c Dr.

To Liability A/c

Choose the correct answer from the options given below:

The General Reserve of Rs. 90,000 is appearing in balance sheet at the time of the change in profit sharing ratio among existing partners. The General Reserve would be transferred among:

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?

Which of the following is not a factor affecting goodwill value of the firm ?

Sometimes the value of Goodwill is not given at the time of admission/retirement of a partner. In such a situation, it has to be inferred from capital and profit sharing ratio. such Goodwill is called