Q:1 P is admitted to the partnership and brought Rs 50,000 as goodwill. But he is not in a position to bring in the goodwill. The accountant has recorded an entry in the books by debiting Goodwill account and crediting sacrificing partner’s capital accounts. Is it correct?
Q :2 A, B and C are partners sharing profits in the ratio of
2:2:1. D is admitted as a new partner for 1/6th share. C will retain
his original share. Calculate New and sacrificing ratio.
Q:3 A and B are partners sharing profit in the ratio of 3:2.
C is admitted as a new partner for 1/5th share. C gets 1/3rd
of his share from A and 2/3rd of his share from B.
Calculate New and sacrificing ratio.
Q:4 A and B are partners in a firm. They admit C as a new
partner with 1/5th share. C brings Rs 5,00,000 as his share of
capital. The value of assets is Rs 15,00,000 and liabilities is Rs 5,00,000.
Give entry for goodwill.
Q:5 A , B and C were partners sharing profits in the ratio of
5:3:2.
D is admitted as a new partner for 1/5th share
which he acquires from A and B in the ratio of 1:1.
D brings Rs 3,00,000 for capital but does not bring his share
of goodwill premium Rs 30,000 in cash. For appropriating amount of goodwill
premium from d current account is to be opened.
Give the entries for goodwill.
Q:6 Why and how is the goodwill premium distributed among the
existing partners?
Q:7 What is hidden Goodwill?
Q:8 A & B were sharing profits in the ratio of 5:3. C is
admitted as a new partner for 1/5th share which he gets from A. C
brings Rs 5,00,000 as capital and Rs 20,000 as goodwill premium.
Give the entries for goodwill.
Q:9 A & B were sharing
profits in the ratio of 3:2. C is admitted as a new partner. After his
admission the new ratio became 1:3:1. C brings Rs 3,00,000 as capital and Rs
10,000 as goodwill premium.
Give the entries for goodwill.
Q:10 A & B were sharing profits in the ratio of 3:2. C is
admitted as a new partner. After his admission the new ratio became 1:3:1. C
brings Rs 3,00,000 as capital and Rs 10,000 as goodwill premium out of his
share of goodwill premium of Rs 15,000.
Give the entries for goodwill
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