Accountancy Tes...

The ratio in which the old partners are surrendering their share of profits in favour of the incoming partner is called__________.

The matters that require adjustment at the time of admission of a new partner are:

In case of admission of a partner, unrecorded asset and unrecorded liability are to be recorded in:

A, B and C are partners in the ratio of 1/5 : 1/3 : 7/15 .C retires and his share is taken up by A and B in the ratio of 3 : 2.The new profit-sharing ratio will be

A, B and C are partners sharing profits in the ratio of 2: 2: 1. C retired. The new profit-sharing ratio will be:

The General Reserve at the time of admission of the partner is transferred to:

Capital employed in a business is Rs. 150000. Profit gained was Rs. 50000/-and the normal rate of profit is 20%. The amount of goodwill as per the capitalization method would be

X and Y share profits and losses in the ratio of 2: 1. They take Z as a partner and the new profit-sharing ratio becomes 3: 2: 1. Z brings Rs. 4,500 as a premium for goodwill. What will be the value of the firm’s goodwill?

Profit on revaluation of assets and liabilities is shared by old partners in:

Calculation of sacrificing ratio is necessary when the new partner will bring in ________________.