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Ram and Shyarn are partners in a firm with a capital of Rs. 4,80,000 and Rs. 3,10,000 respectively. They admitted Ganesh as a partner with $${\frac{1}{4}^{{\text{th}}}}$$ share of profit, and Ganesh brings Rs. 3,00,000 as his capital. Ganesh's share of goodwill will be

Correct Answer: Rs. 27,500

Ram and Shyam are partners in a firm with capital of Rs. 4,80,000 and Rs. 3,10,000, respectively. They admitted Ganesh as a partner with $${\frac{1}{4}^{{\text{th}}}}$$ share of profit. Ganesh brings Rs. 3,00,000 as his capital. Ganesh's share of goodwill will be

Ram and Shyam are partners in a firm with capital of Rs. 4,50,000 and Rs. 3,10,000 respectively. They admitted Ganesh as a partner with $${\frac{1}{4}^{{\text{th}}}}$$ share of profit. Ganesh brings Rs. 3,00,000 as his capital. Ganesh's share of goodwill will be

X and Y are partners in the firm. Their profit sharing ratio is 2 : 3. Rs. 10,000 goodwill is appearing in the books. Z becomes new partner in the firm for $${\frac{1}{5}^{{\text{th}}}}$$ share. His share of goodwill is calculated as Rs. 15,000. Amount of goodwill credited to old partners capital account will be

A and B are partners sharing profits in the firm in the ratio of 2 : 3. Goodwill appears in the books of firm at Rs. 10,000. C joins the firm for $$\frac{1}{5}$$ share of profits. His share of Goodwill is estimated to be Rs. 15,000. The old partner's account will be credited with Goodwill by

Which of the following are correct regarding rights of partners?
1. A partner has the right to allow the admission of a new partner.
2. Every partner has a right to take part in the management of business.
3. Every partner has a joint ownership of partnership property.
4. Every partner has a right to share the profit not the losses with other partners.
5. Every partner has a right to inspect the books of account and have a copy of the same.
6. In case of emergency, a partner has a right to act as a man of prudence.
Select the correct answer:

A and B are partners sharing profits in the ratio of 3 : 2. Their books showed goodwill at Rs. 3,000. C is admitted with $${\frac{1}{4}^{{\text{th}}}}$$ share of profit and brings Rs. 10,000 as his capital. But, he is not able to bring in cash for his share of goodwill Rs. 3,000. How will you treat this?

Arrange the following steps of 'adjustment of old partners' capital on the basis of incoming partner's capital in a correct order.
1. Ascertain the present capital of the old partners.
2. Calculation of total capital of firm on the basis of new partner's capital.
3. Finding the surplus/deficit capital.
4. Determining the new capital of each partner.
Select the correct answer:

A and B are partners sharing profits in the ratio of 3 : 2. Their books showed goodwill at Rs. 3,000. C is admitted with $${\frac{1}{4}^{{\text{th}}}}$$ share of profits and brings Rs. 10,000 as his capital. But, he is not able to bring in cash for his share of the goodwill of Rs. 3,000. How will you treat this?

A and B are partners sharing profit and loss in 2 : 1 ratio. They admitted C who agreed to contribute Rs. 50,000 towards his capital. The future profit sharing ratio of A, B and C is 2 : 3 : 3 respectively. C agreed to transfer Rs. 15,000 for Goodwill from his capital account. A's capital account will be credited by

Sister of Ram Prakash married a person belonging to another caste. The marriage was not approved by some influential members of the community of Ram Prakash. They influenced the members of the community to excommunicate the family of Ram Prakash. However later on the caste leaders asked Ram Prasad to give Rs. one lac to the community as a penance and only then his family would be admitted in the community. But Ram Prasad instead of delivering money files an F. I. R. (First information Report) The community leaders who demanded money claimed no offence has been committed as Ram Prasad was guilty of violating community rules and in fact no money has actually been delivered. What offence, if any, has been committed by the community leaders?