Retirement or D...

At the time of retirement of a partner, firm gets _________ from the insurance company against the Joint Life Policy taken by the firm.

Under capitalization basis goodwill is calculated by using __________.

X and Y share profits and losses in the ratio of 2: 1. They take Z as a partner and the new profit sharing ratio becomes 3 : 2: 1. Z brings Rs. 9,000 as a premium for goodwill.The full value of goodwill will be ________. 

Goodwill of a firm of A and B is valued at 30,000. It is appearing in the books at 12,000. C is admitted for 1/4th share. The amount of goodwill, which he is supposed to bring, will be:

The capital of B and D are! 90,000 and! 30,000 respectively with the profit sharing ratio 3 : 1. They decide to change the ratio to 5 : 3. On the date of change Goodwill is valued at! 84,000. B and Ds capital will be credited by _________.

A and B are partners with the capital Rs.50,000 and Rs.40,000 respectively.They share profits and losses equally. C is admitted on bringing Rs.50,000 as capital only and nothing was brought against goodwill. Goodwill in Balance sheet of Rs.10,000 is revalued as 30,000.What will be value of goodwill in the books after the admission of C?

A, B and C were partners sharing profit and losses in the ratio of 3 :2 :1. A retired and firm received the joint life policy Rs. 12,000. The Joint Life Policy Account appearing in the balance sheet at Rs. 20,000. What will be the treatment for the balance in Joint Life Policy i.e., Rs.8,000.

A and B are partners sharing the profit in the ratio of 3 : 2 they take C as the new partner, who brings in 25,000 against capital and 10,000 against goodwill. New profit sharing ratio is 1 : 1 : 1. In what ratio will this amount be shared among the old partners A and B?

A, B and C take a Joint Life Policy. After five years, B retires from the firm. Old profit sharing ratio is 2 :2 :1. After retirement A and C decide to share profits equally. They had taken a Joint Life Policy of Rs. 2,00,000 with the surrender value Rs. 30,000 What will be the treatment in the partners capital account on receiving the JLP amount if joint life policy A/C is maintained at the surrender value?  

Which of the following statements is true?