Admission of a ...

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:

Section ____ of the Indian Partnership Act provides that a new partner shall not be inducted into a firm without the consent of all existing partners

What adjustments are mainly done at the time of admission of a new partner?

(i) Adjustment in Profit sharing ratio

(ii) Goodwill

(iii) Accumulated profits, Reserves and losses

Sacrificing ratio is calculated for  :

Hari and Mohan are partners in the ratio 3:2. On 1st April, 2015 they admitted John as a new partner with 1/6 share in profit of the firm. Find out the sacrifice or gain of Mohan.

Anand and Nitin are partners sharing profits in the ratio of 3:2. They admitted Jayshree as a new partner for 3/10 share which she acquired 2/10 from Anand and 1/10 from Nitin. Calculate the new profit sharing ratio of Anand, Nitin and Jay