Admission of a ...

When a new partner is admitted into the firm the old partners stand to ___________.

A and B are two partners sharing profit and loss equally. Their capital A/c stood at Rs.30,000 and Rs.25,000 respectively on 31st March, 2013. On 1st April C is admitted for 1/3rd share of profit for which he brings Rs.12,000 as his share of goodwill. On the date of his admission, stock was appreciated by Rs.11,000 and provisions for bad debts also increased by Rs.2,000. Old partners decided that C's capital should be in accordance with his share of profit sharing ratio. What adjustment will be required to make their capital in proportion to their profit sharing ratio?

Which of the following is the odd one?

As per super profit method goodwill = ____________.

X & Associates is a partnership firm, it intends to revalue its goodwill, average profit for the past five years is Rs. 15,000 per annum and goodwill is being valued 5 years purchase of super profit. What would be the value of the goodwill of the firm if normal profit of the firm is Rs.12,000?

A and B are two partners in a firm having share capital of Rs. 13,000 and Rs.17,000 respectively. C is admitted for 1/3rd share of profit for which he is to bring Rs.20,000 for his share of capital. What is the goodwill of the firm?

A, B and C are sharing profit and loss in the ratio of 3:2:1, D is admitted into the firm with 1/7th share of profit which he purchases from A.How the goodwill brought in by D would be distributed amongst the old partners on the facts given in question?

Partnership is defined as a relationship between persons who have agreed to share the profit of a business carried on by ________ or any one of them acting for _________.

Consequent upon admission of a new partner in a firm the value of the goodwill is valued at Rs.60,000. But there exists a goodwill account in the balance sheet which stood at Rs.48,000 what would be treatment of goodwill at the time of admission of a new partner. If memorandum revaluation method is followed, after admission of a new partner?

__________ is not essential requirement of a partnership.