Retirement or D...

The profits and losses for the last years are:  l year Losses Rs.20,000; ll year Losses Rs. 5,000; lll year profits Rs.1,96,000 & IV year profits Rs. 1,52,000. The average capital employed in the business is Rs. 4,00,000. The rate of interest expected from capital invested is 12%. The remuneration of partners is estimated to be Rs, 2,000 per month. The value of goodwill by four years purchase of super profits based on the annuity of the four years. ( Take discounting rate as 10%) is ________.

What is the extra amount over and above the values of the identifiable assets in a going concern is known as?

X and Y share profit and losses in the ratio of $$4:3$$ they admit Z in the firm it $$3/7$$ share which he gets $$2/7$$ from X and $$1/7$$ from C. The new profit sharing ratio will be __________ .

What do you mean by super profit?

X, Y, Z are partners sharing profits in the ratio $$3:4:3$$ Y retires, and X and Z share his profits in equal ratio. Find the new ratio of X and Z.

A, B and C are partners sharing profits in the ratio of 4:3:2. D is admitted for 2/9th share of profits and bring Rs 30,000 capital and 10,000 for his share of goodwill. The new profit sharing ratio between partners will be 3:2:2:2. The premium for goodwill will be credited in the capital accounts of __________.

Ram, Rahim, Singh and John are partnership sharing profits and losses equally. They mutually agree to change their profit sharing ratio to $$2:2:1:1$$. In this case John's share would decrease by __________ Share of profit and loss.

How unrecorded assets are treated at the time of retirement of a partner?

The articles of association can be altered by ___________ .

A, B and C are partners sharing profits and losses I the ratio of $$1/2, 3/10$$ and $$1/5$$, B retires from the firm, A and C decide to share the future profits and losses in $$3: 2$$, Calculate gaining ratio.