Retirement or D...

A,B and C are sharing profit and loss  in the ratio of 4:3:2,B retires and remaining partner agree to share profit in the ratio of 5:3 and decides not to raise goodwill a/c. Goodwill of the firm is valued at Rs.72,000. What would be the adjustment entry________. 

The reputation of a business expressed in terms of money.

Consequent upon admission of a new partner in a firm the value of the goodwill is valued at Rs.60,000. But there exists a goodwill account in the balance sheet which stood at Rs.48,000 what would be treatment of goodwill at the time of admission of a new partner if the firm follows revaluation method of goodwill?

PQR are three partners in a firm, they decided to admit S a fourth partner in the firm with 1/4th share of profit and loss in the firm. Firm decides to revalue the goodwill of the firm on the basis of 3 years purchase of past 4 years average profits. What would be the value of the goodwill of the firm if the firm decides to revalue the goodwill based on 5 years super profit and an average profit of the industry during the year is 14,000 p.a? Actual past profit of the firm are as follows:
               2010                              Rs. 22,000
               2011                              Rs. 17,000
               2012                              Rs. 22,000
               2013                              Rs. 19,000

Which of these statements is true?

X & Associates is a partnership firm, it intends to revalue its goodwill, average profit for the past five years is Rs. 11,000 per annum and goodwill is being valued 3 years purchase of average profit. What would be the value of the goodwill of the firm?

A,B and C are three partner sharing profit and loss equally. C dies on 30th June 2010.If the total profit for the year ending 31st March 2011 amounted to Rs.30,000.What would be the share of profit to be credited to C's A/c?

As per provisions of the Partnership Act, executor is entitled to interest at ____% on the final amount due to the deceased partner.

ABC Associates has decided to value the goodwill of the firm using capitalisation method. Find the goodwill of the firm if capital employed of the firm is $$Rs.24,00,000$$. Reasonable return on capital is $$12.5$$% and current years profit is $$Rs.8,00,000$$.

ABC are three partners in a firm, they decided to admit D a fourth partner in the firm with 1/4th share of profit and loss in the firm. Firm decides to revalue the goodwill by capitalizing super profit @10%. What is the goodwill of the firm average profit and normal profit were Rs. 20,000 and 13,000 respectively?