Retirement or D...

In the absence of proper agreement, representative of the deceased partner is entitled to the dead partner's share in ____________.

A, B & C partners sharing profits & losses in the ratio of 4:3:2. B decided to retire from the firm. Calculate the new profit sharing ratio of A & C if B gives his share to A & C in equal proportion.

Find the goodwill from the following information:
Capital employed - Rs.$$11,00,000$$
Rate of normal return - Rs.$$10\%$$
Future Maintainable profit - Rs.$$2,00,000$$
No. of year purchase -$$3$$ years

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

When required amount for premium for goodwill is not brought in by new partner, goodwill account is raised in the books of the firm by debiting goodwill account and crediting partners capital account in

A & B are partner sharing profits and losses in the ratio of $$3:2$$. C is coming as a new partner for $$1/3$$rd share. Calculate new profit sharing ratio among A, B & C.

The capital of B & D are Rs.$$90,000$$ and Rs.$$30,000$$ respectively with the profit sharing ratio $$3:1$$. The new ratio is $$5:3$$. The goodwill is valued Rs.$$80,000$$ as on the date. Amount payable by a gaining partner to a scarifying partner is

R & S are in partnership sharing profit and losses at the ratio $$3:2$$. They take T as a new partner. Calculate the new profit sharing ratio, if T purchases $$1/10$$th share from R.

Capital employed by a partnership firm is Rs. $$1,00,000$$. Its average profit is Rs. $$20,000$$. Normal rate of return is $$15\%$$. Value of goodwill.

Sometimes, all the partners including the new partner may agree no to alter the book value of assets and liablities even when they agree to revalue them. In order to record this, ______ is opened.