At the time of admission of a new partner the firm is:

At the time of admission an incoming partner contributes as goodwill:

Good will is valued as two years purchase of the average profits of three previous years are Rs. 15000, the value of good-will be:

At the time of admission of a new partner, general reserve is:

At the time of a new partner Good will:

In the revaluation account a decrease in the value of plant and machinery:

In the revaluation account an increase in the value of land and building:

A and B are partners in a firm sharing profits and losses in the ratio of 3:2. They admit C into partnership for 1/5th share. C brings Rs.30,000 as capital and Rs.10,000 as goodwill. At the time of admission of C goodwill appears in the balance sheet of A and B at Rs.3,000. New profit sharing of the partners shall be 5:3:2. Pass necessary entries in the books of new firm.

A and B are partners in a firm sharing profits in the ratio of 5:3. They admit C into the partnership for 3/10th share in profits which he takes 2/10th from A and 1/10th from A and 1/10th from B. C brings in Rs.3,000 as premium in cash out of his share of Rs.7,800. Goodwill account does not appear in the books of A and B. Give the necessary journal entries in the books of the new firm.

E and F were partners in a firm sharing profits in the ratio of 3:1. They admitted G as a new partner on 1.3.2005 for 1/3 share. It was decided that E,  and G will share future profits equally. G brought Rs.50,000 in cash and machinery worth Rs.70,000 for his share of profit as premium for goodwill. Showing your calculations clearly, pass necessary journal entries in the books of the firm.

L and M were partners in a firm sharing profits in 4:3 ratio. They admitted O as a new partner. The new profit sharing ratio of L,M and O will be 3:3:4. O brought Rs.2,00,000 for his capital. The goodwill of the firm on O's admission was valued at Rs.70,000. O brought his share of goodwill in cash. Calculate sacrificing ratio of L and M and pass necessary journal entries for the above transactions on O's admission.

A and B were partners in a firm sharing profits in the ratio of 3:2. They admitted C and D as new partners. The new profit sharing ratio will be 2:2:1:1. C and D brought Rs.2,75,000 each for their respective capitals and also necessary amount of premium for goodwill in cash. Goodwill was valued at Rs.2,40,000 for the firm. Calculate sacrificing ratio of A and B and pass necessary journal entries for the above transactions in the books of the firm.

Richa and Deeksha are partners sharing profits and losses in the ratio of 3:2 Suchi, a new partner is admitted who acquired 1/9th share from Richa and 1/18th from Deeksha. Calculate the new profit sharing ratio and sacrificing ratio.

A, B and C are partners sharing 3:2:2 ratio. They admitted D as a new partner for 1/5th share which he acquired from A, B and C in 2:2:1 ratio respectively. Calculate new profit sharing ratio.

Given below is the Balance Sheet of Krishna and Suresh who are partners in a firm sharing profits in the ratio of 3:2.

On that date Mohan is admitted as a partner for 1/5th share on the following terms:

(a)He is to contribute Rs.14,000 as his share of capital which includes his share of premium for goodwill.

(b)Goodwill is valued at 2 years' purchase the average profits of the last 4years, which were Rs.10,000; Rs.9,000, Rs.8,000 and Rs.13,000 respectively.

(c)Plant to be written down to Rs.25,000 and patents written up by Rs.8,000.

(d)Unrecorded investment Rs.7,000

Prepare Revaluation Account, Partners' Capital Accounts and the Balance Sheet of the new firm.

A and B are partners sharing profits and losses in the ratio of 3:2 On 31st March, 2014 their Balance Sheet was as follows:

C was admitted on the following terms:

(i)C is bring capital Rs.40,000 and Goodwill Rs.15,000

(ii)Partners agreed to share the future profits in the ratio of 5:3:2.

(iii)Investments will be appreciated by 20% and furniture depreciated by 10%

(iv)One customer who owed the firm Rs.2,000 becomes insolvent and nothing could be realised from him.

(v)Creditors will be written back by Rs.2,000

(vi)Outstanding bills for repair Rs.1,000 will be provided for

(vii)Interest accured on investments Rs.2,000

(viii)Capital of the partners shall be in proportion to their  profit sharing ratio. For this adjustments to be made through cash.

Prepare Revaluation account Partners' capital Account and the Balance sheet of the firm after C's admission.