Retirement or D...

In the case of downward revaluation of an asset, which is for the first time revalued, ___________ account is debited.

A, B and C are the partners sharing profits and losses in the ratio of $$5:3:2$$, took a joint life policy of Rs. $$30,000$$. On the death of B what amount will be payable to each partner will be ____________.

A and B are partners sharing profits in the ratio 5 : 3. They admitted C giving him 3/10 share of profit. If C acquires 1/5th share from A and 1/10th from B, the new profit sharing ratio will be _________. 

Goodwill brought in by incoming partner in cash is taken away by the old partners in ___________.

All of the following except one is the method of recording joint life policy ______________.

On the death of a partner, the amount of Join Life Policy is credited to the Capital Account of _____________.

Under annuity basis goodwill is calculated by using ___________.

The profits of last three years are Rs.52,000, Rs.49,000 and Rs.55,000. Find out the goodwill of two years purchase.

The profits and losses for the last years are : 2001-02 Losses Rs.8,000; 2002-03 Losses Rs.4,500; 2003-04 Profits Rs.1,00,000 & 2004-05 Profits Rs.74,000.The average capital employed in the business is Rs.2,40,000. The rate of return expected from capital invested as 10%. The remuneration of partners is estimated to be Rs.1,000 per month. Calculate the value of goodwill on the basis of two years' purchase of super profits base on the average of four years.

The following trading results are available in respect of the business carried on by a firm:
2001                 Loss                    Rs.10,000
2002                 Loss                    Rs.5,000
2003                 Profit                  Rs.80,000
2004                 Profit                  Rs.55,000
The value of goodwill on the basis of 5 years' purchase of average profit of the business will be ___________.