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Questions and Answers
What is the new profit sharing ratio between Rajesh, Mukesh and Hari?
What is the new profit sharing ratio between Rajesh, Mukesh and Hari?
- 1:3:2
- 2:3:4
- 4:3:2 (correct)
- 3:2:1
What is the value of goodwill of the firm when Hari is admitted to partnership?
What is the value of goodwill of the firm when Hari is admitted to partnership?
- Rs. 36,000 (correct)
- Rs. 45,000
- Rs. 60,000
- Rs. 30,000
Why was the goodwill account not opened in Hari's admission?
Why was the goodwill account not opened in Hari's admission?
- Because Hari could not bring his share of goodwill premium in cash
- Because Hari was not a partner initially
- Because goodwill was already valued at Rs. 36,000
- Because Rajesh, Mukesh and Hari decided not to show goodwill in their balance sheet (correct)
What is the new profit sharing ratio between Amar, Akbar and Anthony?
What is the new profit sharing ratio between Amar, Akbar and Anthony?
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How much is Anthony's share of goodwill?
How much is Anthony's share of goodwill?
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What is the total capital of A and B in the balance sheet?
What is the total capital of A and B in the balance sheet?
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How much will C bring in as his capital when admitted as a partner?
How much will C bring in as his capital when admitted as a partner?
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How much is C's share of goodwill?
How much is C's share of goodwill?
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What is the ratio in which A and B share profits and losses?
What is the ratio in which A and B share profits and losses?
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What is the total of liabilities and capitals in the balance sheet?
What is the total of liabilities and capitals in the balance sheet?
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