Retirement or D...

Under average profit basis, goodwill is calculated by: 

Excess of actual profit over normal profit is called

There are three partners P,Q and R sharing profit and loss in the ratio of 4:5:3. Q retires, and the remaining partners agreed to share profit and loss in future in the ratio of 7:8. What is the gaining ratio of the old partners?

A,B and C are three partners sharing profit and loss in the ratio of 3:2:1. B retire from the firm.If B's share of profit is purchased by C. What will be new profit sharing ratio? 

X,Y and Z are three partners in a firm.They are sharing profit and loss in the ratio of 3:2:1.On 11th Jan Y died. The firm decided to value goodwill based on 3 years purchase of weighted  average of 5 years profit.The trading profit of the firm for the past five years before charging interest on capital was as under Rs.10,000,Rs.9,000,Rs.11,000,Rs.7,000,Rs.8,000. The capital of the firm stood Rs.50,000 and interest on capital of the firm stood Rs.50,000 and interest on capital is given at 8%. What is Y's share of goodwill?

The amount due to the deceased partner is paid to his __________.

On retirement /death of a partner new Profit sharing ratio of remaining partner _________.

At the time of admission when goodwill account is not being opened in the books of account, credit is given to the old partner in what ratio? 

Amount due to a retiring partner is shown as _________.

A, B and C are three partners. On death of B assets and liabilities are revalued as under, Provision for doubtful debts reduced by Rs.1050, Stock in trade decreased by Rs.550, unrecorded liability Rs.1500 taken on record Building increased by Rs.4600. Remaining partners decides to reinstate the assets and liabilities at old balances. The revaluations would be given effects by _________.