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At the time of admission of a new partner, for getting right to share the assets of the partnership firm, the new partner atleast will bring :-

Vijay and Manohar share profits and losses in the ratio of 2:1. They admit Prakash as a partner with 1/4 share in profits with a guarantee that his share of profit will be at least Rs. 50,000. The net profit of the firm for the year ending March 31, 2015, was Rs. 1,60,000. Calculate the amount of profit Vijay will get.

The profit or loss on revaluation of assets and liabilities are distributed in

Identify the steps involved in calculating goodwill under the capitalization of super profits method:

(A) Calculate capital of the firm, which is equal to total assets (excluding goodwill and fictitious assets) minus outside liabilities

(B) Multiply the super profits by the required rate of return multiplier

(C) Calculate normal profits on capital employed

(D) Calculate super profits by deducting normal profits from average profits

(E) Calculate average profit for past years

Choose the correct answer from the options given below:

What are the main factors affecting the value of goodwill?

(A) Nature of business

(B) Location

(C) Efficiency of management

(D) Market situation

Choose the correct answer from the options given below:

________ is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits.

On the admission of a new partner increase in the value of assets is debited to:

Excess value of net assets over purchase consideration at the time of purchase of business is credited to

When a new partner brings his share of goodwill in cash, the amount is credited to-

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-

Which of the following is NOT a method of valuation of goodwill?

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

Arrange the steps involved under the super profit method of calculating goodwill-

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return

(B) Calculate the average profit

(C) Calculate goodwill by multiplying the super profits by the given number of years' purchase

(D) Calculate the super profits by deducting normal profit from the average profits

Choose the correct answer from the options given below:

1. (A), (B), (C), (D)
2. (B), (C), (A), (D)
3. (B), (A), (D), (C)
4. (C), (B), (D), (A)

Arrange in correct sequence at a time of admission of partner-

(A) Adjustments of capital accounts.

(B) Valuation of goodwill

(C) Calculation of new profit sharing ratio and sacrificing ratio.

Choose the correct answer from the options given below:

1. (A), (B), (C)
2. (A), (C), (B)
3. (B), (A), (C)
4. (C), (B), (A)

Das and Sinha are partners in a firm sharing profits in 4:1 ratio. They admitted Pal as a new partner for 1/4th share in the profits, which he acquired wholly from Das. The new profit sharing ratio of the partners is-

Which of the following is not a method of valuation of goodwill?

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-

The profits of firm for the five years are as follows:

Calculate the value of goodwill on the basis of three years' purchase of average profits.

On the admission of a new partner increase in the value of assets is debited to:

A and B are partners in a firm sharing profits in the ratio of 3:2. They admitted M as a new partner for 1/4 share. The new profit sharing ratio between A and B will be 2:1. Calculate their sacrificing ratio.

Arrange the Following Steps to Calculate Goodwill under the Super Profits Method-

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return

(B) Calculate the average profit

(C) Calculate the super profits by deducting normal profit from the average profits

(D) Calculate goodwill by multiplying the super profits by the given number of years' purchase

Choose the correct answer from the options given below:

Das and Sinha are partners in a firm sharing profits in 4:1 ratio. They admitted Pal as a new partner for 1/4th share in the profits, which he acquired wholly from Das. The new profit sharing ratio of the partners is-

Vijay and Manohar share profits and losses in the ratio of 2:1. They admit Prakash as a partner with 1/4 share in profits with a guarantee that his share of profit will be at least Rs. 50,000. The net profit of the firm for the year ending March 31, 2015, was Rs. 1,60,000. Calculate the amount of profit Vijay will get:

Match List-I with List-II

Choose the correct answer from the options given below:

Arjun and Vaibhav are partners sharing profits in the ratio of 3:2. They admitted Rahul as a new partner for 1/5 share in the future profits of the firm. The new partner acquired his share from the old partners in the old ratio. Calculate the new profit sharing ratio of Arjun, Vaibhav and Rahul.

P, Q and R are partners in a firm. If S is admitted as a new partner then:

When a new partner is admitted, the increase in the value of the assets is debited to which account?

The accumulated profits and reserves are transferred to:

When a new partner brings his share of goodwill in cash, the amount is credited to:

On the admission of a new partner, an increase in the value of assets is debited to: