Admission of a ...

A admitted as a new partner for 1/ 4 share of future profits, fails to bring in cash of Rs. 5,000 towards goodwill but the existing (old) partners B and C sharing profits in the ratio of 3 : 2 raise goodwill account at its full value. Therefore, partners will be credited for goodwill as:

Sadhu, Mahatma and Fakir are equal partners. Fakir wanted to retire for which value of goodwill is considered as Rs. 6,00,000. The necessary journal entry will be:

Goodwill is recorded in the books when:

Ram and Shyam are partners in a firm with capital of Rs 4,80,000 and Rs 3,10,000, respectively. They admitted Ganesh as a partner with l/4th share of profit. Ganesh brings Rs 3,00,000 as his capital. Ganesh's share of goodwill will be __________.

Capital employed in a business is Rs. 1,50,000. Profits are Rs. 50,000 and the normal rate of profit is 20%. The amount of goodwill as per Capitalisation Method would be:

The need for valuation of goodwill arises at the time of _______ of a business.

If the business is centrally located or is at a place having heavy customer traffic, then the goodwill tends to be ______.

The important methods of valuation of goodwill are:

P and Q are two partners sharing profit and loss equally. P draws Rs. 4,000 at the end of each month for 6 months whereas Q draws Rs. 2,000 at the beginning of each month for six months. Assuming that interest on drawing is to be charged @ 5% p.a interest on drawing of P will be ____________.

The reputation of a business expressed in terms of money.