Admission of a ...

Upon a admission of Champak Lal in a partnership firm as a new partner for 1/4th share of profit, the goodwill of the firm is valued at Rs.40,000. Goodwill to be brought in cash by Champak will be ______.

As per AS 26 only _____will be recorded in books of account .

Which of these is not found in case of retirement /death of a partner?

Goodwill brought in by a new partner is a _______.

X,Y and Z are three partners in a firm.They are sharing profit and loss in the ratio of 3:2:1. On 11th Jan Y died. The firm decided to value goodwill based on 3 years purchase of weighted average of 5 years profit. The trading profit of the firm for the pass five years before changing interest on capital was as under rs.10,000, Rs.9000,Rs.11000,Rs.7000, Rs.8000. The capital of the firm stood Rs.50,000 and Interest on capital is given at 8%.What is the total goodwill of the firm?

Which of these terms is not true in respect of goodwill?

X,Y and Z are three partners in a firm. They are sharing profit and loss in the ratio of 2:2:1. Y retires from the firm on 31st March. The firm decided not to raise goodwill A/c in the books of a/c. What entry will be  made for the treatment of goodwill at the time of retirement of Y?

When goodwill is to be after the admission of a partner in which ratio it is transferred to capital account of the partners?

When goodwill is revalued at the time of admission of a partner, how goodwill is distributed amongst the old partners? 

___________ is the real test of determination of partnership.