Question : A, B and C are partners sharing profits in a ratio of 5:3:2. D is admitted and new profit sharing ratio is agreed at 1:2:2:1. Goodwill is valued at Rs 1,20,000. What entry will be passed if a goodwill account is to be raised and written off?

Option 1: Goodwill account debited with Rs 20,000 and crediting old partner capital account and in their old profit sharing ratio

Option 2: Debiting Goodwill account debiting Rs 1,20,000 and old partner's capital account crediting and In their new profit sharing ratio

Option 3: All partner's capital account debiting with Rs 1,20,000 and crediting goodwill account with Rs 1,20,000

Option 4: Both 2 and 3

Question :

A, B and C were partners in a firm sharing profits in the ratio of 6:5:4.Their capitals were A—Rs. 1,00,000; B—Rs. 80,000 and C—Rs. 60,000 respectively. On 1st April, 2009, A retired from the firm and the new profit-sharing ratio between B and C was decided as 1:4.0n A's retirement, the goodwill of the firm was valued at Rs. 1,80,000. Balance of General reserve Rs. 60,000 and profit and loss debit balance Rs. 30,000. Amount payable to A will be 

Option 1: Rs 1,84,000

Option 2: Rs 1,96,000

Option 3: Rs 1,00,000

Option 4: None of the above 

Question : Alia, Karan and Shilpa were partners in a firm sharing profits in the ratio of 5: 3: 2. Goodwill appeared in their books at a value of Rs. 60,000 and General Reserve at Rs. 20,000. Karan decided to retire from the firm. On the date of his retirement, goodwill of the firm was valued at Rs. 2,40,000. The new profit-sharing ratio decided between Alia and Shilpa was 2: 3.

Amount payable to Karan on his retirement will be:

Option 1: Rs 72,000

Option 2: Rs 60,000

Option 3: Rs 18,000

Option 4: None of the above

Question : Madan and Rakhi were partners sharing profits and losses in the ratio of 2 : 1. On 1st April, 2021 they admitted Amit as a new partner and new ratio was decided as 3:2:1. Goodwill of the firm was valued as Rs.1,20,000. Amit couldn't bring any amount for goodwill. Amount of goodwill share to be credited to Madan and Rakhi  Account's will be:- 

Option 1: Rs. 30,000 and Rs. 20,000 respectively 

Option 2: Rs. 40,000 and Rs. 80,000 respectively 

Option 3: Credited to Madan's Capital A/c Rs 20,000

Option 4: Credited to Raki’ Capital account Rs 20,000 

Question : A and B share profits and losses equally. They have Rs.20,000 each as capital. They admit C as equal partner and goodwill was valued at Rs.30,000. C is to bring in Rs.30,000 as his capital and necessary cash towards his share of goodwill. Goodwill Account will not remain open in books. If profit on revaluation is Rs.13,000, find the closing balance of the capital accounts -

Option 1: Rs.31,500; Rs.31,500; Rs.30,000

Option 2: Rs.26,500; Rs.26,500; Rs.30,000

Option 3: Rs.31,500; Rs.31,500; Rs.20,000

Option 4: Rs.20,000; Rs.20,000; Rs.30,000