Accounting for ...

ABC are three partners in a firm sharing profit and loss in the ratio of $$2:2:1$$, C retires from the firm. On his retirement C's capital a/c was credited by Rs. $$20,000$$ being his share of goodwill and A and B's Capital A/c was debited by Rs. $$12,000$$ and Rs. $$8000$$ respectively. Find the new profit sharing ratio of A and B.

Which of the following is not the requirement in Partnership deed?

Unrecorded Asset realized at the time of dissolution of a firm is credited to which of these accounts

Which of these would increase the net profit of a partnership firm.

Outgoing partner is compensated for parting with firm's future profits in favour of remaining partners.
In what ratio do the remaining partners contribute to such compensation amount?

A and B are two partners in a partnership firm having capital Rs. 10,000 and Rs. 15,000, C is admitted as third partner for 1/3 share of profit for which he brings Rs. 15,000 as his share of capital. Find the goodwill of the firm

P and Q are two partners sharing profit and loss equally. P draws Rs. 2000 at the end of each month for 6 months whereas Q draws Rs. 1,000 at the beginning of each month for six months. Assuming that interest on drawing is to be charged at 6% p.a. Interest on drawing of P will be __________.

As per Section $$37$$ of the Indian Partnership Act, $$1932$$, the executors would be entitled at their choice to the interest calculated from the date of death till the date of payment on the final amount due to the dead partner at _____________ percentage per annum.

P and Q are two partners sharing profit and loss equally. P draws Rs. 2,000 at the end of each month for 6 months whereas Q draws Rs. 1,000 at the beginning of each month for six months. Assuming that interest on drawing is to be charged at 6% p.a. Interest on drawing of Q will be.

Features of a partnership firm are _____________________.