Partnership Admission (Quiz2)

'A', 'B' and 'C' are partners sharing profits in the ratio of 3:2:1. They agree to admit D into fhe firm. 'A', 'B' and 'C' agreed to give 1/3rd, 1/6th and 1/9th share of their profit. The share of profit of 'D' will be

The amount of goodwill brought in by new partner is credited to partners' capital account.

According to ....., if the new partner is not able to bring his share of goodwill in cash, then goodwill should be adjusted through the capital accounts of the partners.

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

Contingency reserve appearing in the balance sheet at the time of admission of partner is ………. to old partners' capital accounts in old ratio.

Workmen Compensation Reserve (WCR) appears in the balance sheet of Rashmi and Suman, who share profits in the ratio of 2: 3, at Rs. 80,000. Deepa is admitted and the new profit sharing ratio is 1:1:1. If the claim on account of WCR is estimated at Rs. 1,00,000, then

Can employee provident fund be distributed among old partners in old ratio at the time of admission?

If the market value of investments is Rs. 1,47,000, then the share of Kim, Mansi and Poorvi in the Investment Fluctuation Fund (IFF) will be

A and B carry on business and share profits and losses in the ratio of 3: 2. Their respective capitals are Rs. 1,20,000 and Rs. 54,000. 'C' is admitted for 1/3rd share in profit and brings Rs. 1,50,000 as his share of capital. Capitals of 'A' and 'B to be adjusted according to "C's share. Calculate the amount brought in by 'A'.

A and B are partners sharing profits and losses in the ratio of 3: 2. A's' capital is Rs. 1,60,000 and B's capital is Rs. 1,30,000. They admit 'C' for 1/5th share of profits. How much C should bring in towards his capital?