Admission of a ...

Which of these terms are not associated with Joint Venture Accounting?

X and Y are partners sharing profits in the ratio of 3 : 1. They admit Z as a partner who paid $$Rs.40,000$$ as Goodwill, the new profit sharing ratio being 2: 1: 1 among X, Y and Z respectively. The amount of goodwill will be credited to __________.

A and B share profits and losses equally. They admit C as an equal partner and goodwill was valued as Rs.30,000. C is to bring in 30,000 as his capital and necessary cash towards his share of Goodwill. What will be the final effect of goodwill in the partners capital account?

A balance sheet is prepared after the new partnership agreement, assets and liabilities are usually shown at _________. 

In normal trading business, which of the following would not be found in a partner's current account?

Which of these would reduce the net profit of a partnership firm

At the time of retirement of a partner full goodwill is credited to the accounts of ________.

A new partner may be admitted to partnership _____________________.

At the time when a new partner enters, goodwill _________.

A and B are partners sharing the profit in the ratio of 3 : 2. They take C as the new partner who brings in 50,000 against capital and 20,000 against goodwill. New profit sharing ratio is 1: 1: 1 . In what ratio will this amount of goodwill be shared among the old partners ?