Admission of a ...

 When a new partner is admitted he acquires his share of profits from the old partners , this will ____ the old partner’s shares in profits:

__________ means good name, good reputation earned by a firm through the hard work and honesty of its owners

A and B are partners sharing profits in the ratio of 3:2. They admitted C as a new partner for 1/5 share in the future profits of the firm. Calculate new profit sharing ratio of A, B and C

Which of the following is not an example of Reconstitution of partnership firm?

Why new profit ratio is determined even for old partners?

If new partner is unable to bring in his share of goodwill , How will you deal

Is admission of a new partner  a reconstitution of partnership firm:

Ram, Ramesh and Rajesh are partners in a business sharing profits and losses in the ratio 3:2:1. Rajesh retires and both the existing partners agree to share profits in the ratio 2:1 .Later Rajesh requests the other partners that his physically challenged son should be inducted as a partner in his place. After discussing it amongst themselves both the partners, Ram and Ramesh agree to take his son as a partner. Identify the values which should have been incorporated while formulating partnership

The amount of goodwill brought in by the new partner is shared by the ____ partners in their ____ ratio

DK and SK are partners sharing profits in the ratio of 4:1. They admit PK as a new partner for 1/4th share in future profits, which he wholly acquired form DK. Find out new ratio.

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.

With the ___ into the firm number of partner increase

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

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

WHEN the value of goodwill is not given at the time of admission of a new partner, it IS  inferred from the capital OF THE NEW FIRM and profit sharing ratio. This concept is called

L and M are partners in a firm profit sharing ratio are 7:3. N and is admitted as a new partner for 3/7th share which he acquires 2/7th from L and 1/7th from M. N brings in ₹ 40000 as capital and ₹15000 as his share of goodwill. How much amount will be credited to L:

Why new partner needs to bring goodwill?

Z is a new partner and acquires his1/5th share of profit from X, an existing partner and present value of firm’s goodwill is Rs. 50,000. In this case Z is required to pay to X.

X and Y are partners sharing profits in the ratio of 3:2. Z is admitted for 1/5 share. All partners have decided to share future profits equally. The profit of new partnership firm was Rs.30,000. This profit will be shared by all the partners in _______

Which of the following situation is not acceptable for the continuity of the partnership firm?