Admission of a ...

Incoming partner may acquire his share from the old partners

(i) In their old profit sharing ratio

(ii) In a particular ratio

(iii) In particular fraction from some of the partners

In which of the above mentioned alternatives

A & B are partners sharing profits in the ratio 1:1. C wants to join their firm as it enjoys a good reputation in the industry. A and B were initially reluctant to his admission but agreed to admit him for 1/5th share in profits. For this, they ask him to pay an unreasonable amount of goodwill in cash irrespective of his share in the profits. Otherwise he will not be admitted as a partner. What values are being overlooked by the firm at the time of C’s admission?

Ram and Shyam are partners in a firm sharing profits in the ratio of 3:2. They admit Ghanshyam as a partner. Ram Surrendered 1/4th of his share and Shyam 1/3rd of his share in favor of Ghanshyam. Find out the new ratio.

Admission of a partner is one of the mode of reconstituting the firm under which

With the ___ into the firm number of partner increase

According to Section 30 of Partnership Act 1932:

New profit sharing ratio means

Kamal and Rahul are partner’s in a firm sharing profits and losses in the ratio of 7:3.They admit Kaushal as a prtaner for 1/5th share.Kaushal acquires his share from Kamal and Rahul in the ratio of 3:2 . The goodwill of the firm has been valued at Rs.25000. Kaushal paid Rs.10000 privately to X and Y as his share of goodwill. What should be the journal entry

Amount brought by a new partner for his share in goodwill is known as _____

At the time of admission of a new partner, the new partner acquires his share from the old partners in the: