Retirement or D...

A & B are equal partners. They admit C and D as partners with $$1/5$$th and $$1/6$$th share respectively. What is the profit sharing ratio of all the partners?

A & B are partners sharing the profit in the ratio of $$3:2$$. They take C as the new partner, who is supposed to bring Rs. $$50,000$$ against capital and Rs. $$20,000$$ against goodwill. New profit sharing ratio is $$1:1:1$$. C brought cash for his share of Capital and agreed to compensate to A and B outside the firm. How this will be treated in the books of the firm?

Goodwill valuation is not required to be done in the following condition

A partner retires but the business is still being carried on 

The correct equation for calculation of super profit method used for calculation of Goodwill is

The correct equation for calculation of super profit method used for calculation of Goodwill is

When a partner dies, the _________.

A partner retires but the business is still being carried on __________.

Goodwill should be tested for value impairment at which of the following levels?

Sometimes, the partners of a firm decide to change their _________ profit sharing ratio without the admission or retirement of a partner.