Admission of a ...

Which of the following factor generally contribute to the value of goodwill of a firm?

A, B & C are partners sharing profits and losses in the ratio of 3:2:1. C retires on a decided date and Goodwill of the firm is to be valued at Rs. 60,000. Find the amount payable to retiring partner on account of goodwill.

An increase in the value of fixed asset is referred to as _________.

It is supposed that on $$31-12-2015$$, the sundry debtors are amounted to Rs. $$40,000$$. On the basis of past experience, it is estimated that $$5\%$$ of the sundry debtors are doubtful. Also suppose that during the year $$2014$$ actual bad debts were Rs. $$1,600$$. What entry will be passed to create provision for doubtful debts?

On the admission of a partner, goodwill is raised for $$Rs. 45,000$$. This amount is debited to __________. 

The executors of the deceased partner are entitled to a share of profit earned by the firm from the date of last balance sheet and to the date of death. Which of the entry will be passed for this purpose? (Name of the deceased partner was Mr.X)

Which of the following assets is compulsory to revalue at the time of admission of a new partner?

Weighted average method of calculating goodwill should be followed when ___________.

If goodwill is to be created and then immediately written off, the correct method of entering this in the accounts would be _________________.

The amount that the incoming partner pays for goodwill is known as ________________.