Admission of New Partner- Test 5

X and Y sharing profits in the ratio of 7 : 3 admit Z on 3/7 share in the new firm. Which he takes 2/7 from X and 1/7 from Y. The new ratio of X, Y and Z will be

A and B are sharing profits and losses in the ratio 4 : 1. C is admitted as a new partner for 1/3rd share of profits for which he pays Rs.30,000 as goodwill. If A and B agree to share future profits equally, then the amount of goodwill to be credited to would be

X and Y are partners sharing profits in the ratio of 1 : 1, They admit Z for 1/5th share who contributed Rs. 25,000/- for his share of goodwill. The total value of the goodwill of the firm will be

A and B are partners in firm sharing profits in the ratio of 3 : 2. C is admitted for 1/5 share of profit and brings Rs.10,000 as capital. The adjusted capital. The adjusted capital of A will be

X and Y are partners sharing profit in the ratio 3:1. They admit Z as partner who pays Rs.4,000 as goodwill. The new profit ratio being 2 : 1 : 1 among X, Y and Z. The among goodwill be credited to

A and B are partners in a business sharing profits in the ratio of 5 : 3. They admit C as a partner with 1/4th share in the profits which he acquires 3/4th from A and 1/4th from B. He pays Rs. 4000 as his share of goodwill. A and B will be credited by

X and Y were sharing profits in 4 : 3 ratio. They admit C as new partner with 1/3rd share. C brings goodwill in cash amounting to Rs.17,500. A will be credited by

P and Q were sharing profits in the ratio of 3:5 was admitted as new partner for 1/3rd share. The total goodwill of the firm is valued at Rs.33,000. C will have to bring

X and Y were sharing profits in the ratio of 3:2. Z admitted with 1/4 share for which he brought Rs.30,000 as ratio, capital. To make capital in profit sharing ratio, capital of Y will be

On the admission of partner, goodwill is raised for Rs.45,000. This amount is debited to

X and Y are sharing profits in the ratio of 2:1. They admit Z into the firm with 1/4 shares in profits for which he brings Rs.12,000 as his share of capital. The partners decide to have their capitals according to the new profit sharing ratio. As a result, the adjusted capital of Y will be

A and B are sharing profits in the ratio of 2 : 1. They admit C into the firm with 1/4th share in profits for which he brings Rs.12,000 his share of capital. Therefore, the adjusted capital of B will be

C, the incoming partner, is to bring Rs.6,000 by way of goodwill for 1/5th share in the firm’s profits. The total goodwill of the firm will be valued at ______.

X and Y are sharing profits in the ratio of 2:1. They admit Z into the firm with 1/4 share in profits for which he brings Rs.12,000 as his share of capital. Hence, the adjusted capital of Y will be

A and B are equal partners in a firm. They admitted as 1/6 partner who brought in Rs.50,000 as goodwill. The new profit sharing ratio is 3 : 2 : 1 :  If goodwill of Rs.60,000 is to be paid to the old partners as per sacrificing ratio, B will receive

A and B are sharing profits in the ratio of 2:1. They admit C into the firm with 1/4th share in profits for which he brings Rs.12,000 as his share of capital. Therefore, the adjusted capital of B will be

The capital balances of A and B are Rs.25,000 and Rs.20,000 respectively after making all the adjustment. If C the incoming partner, is to bring 1/3 of total capital of the firm, then his share of capital will be ______.

A and B are partners in a business sharing Profits in the ratio of 5 : 3. They admit C as a partner with 1/4 share in the profits which he acquires 3/4 from A and 1/4 from B. He pays Rs.4,000 as his share of goodwill. A and B will be credited by

A, B and C are equal partners in a firm with capital of Rs.16,800, Rs.12,600 and Rs.6,000 respectively. With bills payable Rs.3,300; creditors Rs.6,000; cash Rs.600; debtors Rs.10,800,; stocks Rs.11,400; furniture Rs. 2,400 and building Rs. 19,500 E is admitted to the firm and brings Rs.9,000 as goodwill and Rs.15,000 as capital. Half the goodwill is withdrawn by old partners, and stock and furniture is depreciated by 10% . A provisions of 5 % on debtors is created and value of building is taken at Rs.27,000. The profit on revaluation will be

A and B are sharing profits and losses in the ratio of 4:1. C is admitted as a new partner for 1/3rd share of profits for which he pays Rs. 30,000 as goodwill. If A and B agree to share future profits equally, then the amount of goodwill to  be credited to A would be

A and B are partners in a firm and are sharing in the ratio of 3:2. C is admitted for 1/5 share of profits and beings Rs.10,000 as capital. The adjusted capital B will be

A and B are partners in the ratio of 2:1. They admit C for 1/4 share who contributes Rs. 3,000 for his share of goodwill, the total value of the goodwill of the firm is :

X and Y are sharing profits and losses in the ratio of 5:4. Z is admitted into the firm with 1/10 share in profits for which he brings Rs.10,000 as his capital. Hence Y’s share of adjusted capital will be ______.

R admitted as a new partner of 1/4 share of future profits, fails to bring in cash of Rs.5,000 towards goodwill but the existing (old) partners S and T sharing profits in the ratio of 3:2 raise goodwill account at its full value. Therefore, partners will be credited for goodwill as

A, B and C are the partners in a business firm sharing their profits in the ratio of 4:3:2. A new partners D entered the firm. The new profit sharing of A,B,C and D is 5:4:2:1. D contributes a goodwill of Rs.36,000. This goodwill is to be allocated among A, B and C. Which one of the following will be the correct allocation ?

Goodwill of a firm of A and B is valued at Rs.30,000. It is appearing in the books at Rs.12,000. C is admitted for 1/4 share. What amount he is supposed to bring for goodwill ?

Tom and Rose are partners who share net income in the ratio of 4:3 respectively and have capital balances of Rs.10,000 and 8,000 respectively. Jumbo is admitted for 1/8 share and brings Rs.6,000 for capital and Rs.4,200 for goodwill. The new Capital balance of Tom, Rose and Jumbo respectively are Rs.

A and B are partners sharing profits in the ratio of 5:3. C is admitted and is given 1/5 profit. He is unable to pay anything for goodwill which is valued at Rs.40,000. The journal entry for goodwill be:

John and Henry have Capital Balance of Rs.30,000 each on Jan.1, each of them sells 1/5th share to Rogers for Rs.5,000 for which Rogers for Rs.5,000, for which Roger’s pays cash. The entry is :

Goodwill of firm of X and Y is valued at Rs.50,000. X and Y share profits in the ratio of 3:1 and Z is admitted for 1/5 share. If Z does not bring goodwill in cash and also goodwill account is not to be raised, what adjustment entry should be passed: