1. P, Q and R have been sharing profits in the ratio of 8 : 5 : 3. P retires. Q takes 3/16th share from P and R takes 5/16th share from P. New profit sharing ratio will be :

2. A, B and C are partners sharing profits in the ratio of 1/2 : 1/4 : 1/4. New ratio on the retirement of B will be :

3. P, Q and R are sharing profits and losses equally. R retires and the goodwill is appearing in the books at ₹30,000. Goodwill of the firm is valued at . ₹1,50,000. Calculate the net amount to be credited to R’s Capital A/c.

4. P, Q and R were partners sharing profits in the ratio 5 : 3 : 2 respectively. P retires from the firm and Q and R decide to share future profits equally. Goodwill is valued at ₹50,000. Adjustment entry for goodwill will be :

5. A, B and C are equal partners. C retires. He surrenders 3/5th of his share in favour of A and 2/5 th in favour of B. New ratio will be :

6. A, B and C are partners in 3 : 4 : 2. B wants to retire from the firm. The profit on revaluation on that date was ₹36,000. New ratio of A and C is 5 : 3. Profit on revaluation will be distributed as :

7. L, P and G are three partners sharing profits in the ratio 15 : 9 : 8. G retires. L and P decided to share profits in equal ratio. Gaining ratio will be :

8. A, B and C are equal partners in a firm. B retires and the remaining partners decide to share the profits of the new firm in the ratio of 5 : 4. Gaining ratio will be :

9. P, Q and R were partners sharing profits in the ratio of their Capital ‘ contribution which were ₹6,00,000; ₹4,00,000 and ₹5,00,000 respectively. Their books are closed on 31st March every year. P dies on 24th August, 2018. Under the partnership deed, deceased partner is entitled to his share of profit/loss to the date of death based on the average profits of preceding three years. Profits were 2015 ₹50,000; 2016 ₹1,20,000 (Loss); 2017 ₹30,000 and 2018 ₹60,000. P’s share of profit/loss will be :

10. P, Q and R were partners sharing profits in the ratio 2 : 2 : 1 .Q retires and the new profit sharing ratio of P and R will be 3 : 1. Gaining ratio will be :

11. On retirement of a partner, goodwill will be credited to the Capital Account of:

12. A, B and C are sharing profits in the ratio of 3 : 2 : 1. B retires and on the day of B's retirement Goodwill is valued at ₹60,000. A and C decided to share future profits in the ratio of 3 : 2. Journal entry will be :

13. A, B and C are partners with profit sharing ratio 4 : 3 : 2. B retires and goodwill was valued ₹1,08,000. If A & C share profits in 5 : 3, find out the goodwill shared by A and C in favour of B.

14. What treatment is made of accumulated profits and losses on the retirement of a partner?

15. A, B and C were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. The capital balance are ₹50,000 for A, ?₹70,000 for B, ₹35,000 for C. B decided to retire from the firm and balance in. reserve on the date was ₹25,000. If goodwill of the firm was valued at ₹30,000 and profit on revaluation was ₹7,500 then, what amount will be payable to B1

16. ‘Gaining Ratio’ means : (C.S. Foundation Dec. 2012)

17. A, B and C are partners sharing profit or loss in the ratio of 3 : 2 : 1. B retires and after B's retirement A and C agreed to share profit or loss in the ratio o. 3 : 2 in future. Their gaining ratio will be :

18. On 1st April, 2019 A, B and C were partners sharing profits and losses in the ratio of 5 : 3 : 2 respectively. On this date B retires. The new profit sharing ratio of A and C will be 3 : 2. Gaining ratio will be :

19. P, Q and R are partners sharing profits in the ratio of 5 : 4 : 3. Q retires and P and R decide to share future profits equally. Gaining Ratio will be :

20. A, B and C are partners sharing profits in the ratio of 1/4 : 3/10 : 9/20. The New ratio on the retirement of C will be :

21. X, Y and Z were partners in a firm sharing profits in the ratio of 3 : 2 : 1. X retired and the new profit sharing ratio between Yand Z will be 5 : 4. On Xs retirement the goodwill of the firm was valued at ₹54,000. Journal entry will be :

22. How goodwill is recorded on the retirement of a partner?

23. B, P and L sharing profits in the ratio 4:3:2. B retires, P and L decided to share profits in future in the ratio of 5 : 3. Gaining ratio will be :

24. Ram, Krishna and Ganesh were sharing profits and losses in the ratio of 5 : 3 : 2. Ram retires and Krishna and Ganesh share the future profits and losses equally. Goodwill of the firm is valued at ₹1,00,000. Calculate the amount of goodwill to be debited to Krishna’s and Ganesha’s Capital A/c.

25. What journal entry will be recorded for deceased partner’s share in profit from the closure of last balance sheet till the date of his death?