1. When a new partner does not bring his share of goodwill in cash, the amount is debited to :

2. X and Y are partners sharing profit in the ratio of 3 : 2. Z was admitted with 1/4 share in profits which he acquires equally from X and Y. The new ratio will be:

3. P and S are partners sharing profits in the ratio of 3 : 2. R is admitted with \(\frac{1}{5}\)th share and he brings in ₹84,000 as his share of goodwill which is Credited to the Capital Accounts of P and S respectively with ₹63,000 and ₹21,000. New profit sharing ratio will be :

4. A and B are partners sharing profits in the ratio of 11 : 4. C was admitted. A surrendered \(\frac{1}{11}\)th of his share and B\(\frac{1}{4}\) of his share in favour of C. The sacrificing ratio will be :

5. P, Q and R share profits in the ratio of 5 : 3 : 2. S is entitled for \(\frac{1}{5}\)th share in profits which he acquires equally from P, Q and R. Goodwill of the firm is to be valued at three year’s purchase of last four year’s profits which are ₹50,000; ₹60,000; (-) ₹30,000 and ₹40,000. S cannot bring his share of goodwill in cash. Credit will be given to :

6. A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. A new partner C is admitted. A surrenders 1/15th share of his profit in favour of C and B surrenders 2/15th of his share in favour of C. The new ratio will be :

7. Goodwill of a firm of A and B is valued at ₹30,000. It is appearing in the books at ₹12,000. C is admitted for 1/4 share. What amount he is supposed to bring for goodwill?

8. A and B are partners sharing profits and losses as 2 : 1. C and D are admitted and profit sharing ratio becomes 3 : 2 : 4 : 1. Goodwill is valued at ?90,000. C and D bring required goodwill in Cash. Credit will be given to :

9. X and Y are partners sharing profits in the ratio of 3 : 2. Z is admitted as a partner. Calculate sacrifi cing ratio if new profit sharing ratio is 9 : 7 : 4.

10. If the new partner brings his share of goodwill in cash, it will be shared by old partners in :

11. A and B are partners sharing profits and losses in the ratio of 5 : 4. C is admitted for \(\frac{1}{5}\)th share. A and B decide to share equally in future. Sacrificin. ratio will be :

12. In case of admission of a partner, the entry for unrecorded investments will be:

13. A and B are partners sharing profits in the ratio of 2 : 3. Their Balance Sheet shows Machinery at ₹2,00,000; Stock at ₹80,000 and Debtors at ₹1,60,000. C is admitted and new profit sharing ratio is agreed at 6 : 9 : 5. Machinery is revalued at ₹1,40,000 and a provision is made for doubtful debts @5%. A’s share in loss on revaluation amount to ₹20,000. Revalued value of Stock will be :

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

15. X and Y are partners sharing profits in the ratio 2 : 3. They admitted Z for 1/5th share of profits, for which he paid ₹1,20,000 against capital and 760,000 as goodwill. Find the capital balances for each partner taking Z’s capital as base capital.

16. When a new partner brings goodwill in Cash, it is credited to :

17. A, B, C, D are in partnership sharing profits and losses in the ratio of 9 : 6 : 5 : 5. E joins the partnership for 20% share. A. B, C and D would in future share profits among themselves as 3/10 : 4/10 : 2/10 : 1/10. The new profit sharing ratio will be:

18. A and B are partners sharing profits in the ratio of 7 : 5. C is admitted into the partnership for \(\frac{1}{6}\)th share which he acquires \(\frac{1}{24}\)th from A and \(\frac{1}{8}\)th from B. C does not pay anything for his share of goodwill. On C’s admission firm’s goodwill was valued at ₹1,80,000. Credit will be given to :

19. A and B are partners of a partnership firm sharing profits in the ratio of 3 : 2 respectively. C was admitted for 1/5th share of profit. Machinery would be appreciated by 10% (book value ₹80,000) and building would be depreciated by 20% (₹2,00,000). Unrecorded debtors of ₹1,250 would be brought into books now and a creditor amounting to ₹2,750 died and need not pay anything on this account. What will be profit/loss on revaluation?

20. Calculation of New Profit Sharing Ratios . 3. A and B are partners sharing profit in the ratio of 3 : 2. They admit C as a partner by giving him 1/3 share in future profits. The new ratio will be : (C.S. Foundation, Dec., 2012)

21. A and B are partners sharing profits in the ratio of 4 : 3. They admitted C as a new partner who gets 1/5th share of profit, entirely from A. The new profit sharing ratio will be :

22. A and B are partners in a firm sharing profits in the ratio of 2 : 1. C is admitted as a partner. A and B surrender \(\frac{1}{2}\) of their respective share in favour of C. C is to bring his share of premium for goodwill in cash. The goodwill of the firm is estimated at ? 60,000. Credit will be given to :

23. X and Y are partners in a firm with capital of ₹1,80,000 and ₹2,00,000. Z was admitted for 1/3rd share in profits and brings ₹3,40,000 as capital, calculate the amount of goodwill: (CPT; June 2012)

24. A and B are in partnership sharing profits in the ratio of 3 : 2. They take C as a new partner. Goodwill of the firm is valued at ₹3,00,000 and C brings ₹30,000 as his share of goodwill in cash which is entirely credited to the Capital Account of A. New profit sharing ratio will be :

25. If the incoming partner brings the amount of goodwill in Cash and also a balance exists in goodwill account, then this goodwill account is written off among the old partners in