Question : A, B and C were partners sharing profit and losses in the ratio of 7:3:2. From 1st April 2020 they decided to share profit and losses in the ratio of 8:4:3. Goodwill is Rs 2,40,000. In adjustment entry for goodwill 

Option 1:  Cr A by Rs 12,000, Dr B by Rs 4000 and Dr C by Rs 8,000

Option 2: Dr A by Rs 6000, Cr B by Rs 4000, Cr C by Rs 4000

Option 3: Cr A by Rs 12,000, Dr B by Rs 4000, Dr C by Rs 4,000

Option 4: Dr A by Rs 12,000, Cr B By Rs 8000 and Cr C by Rs 4,000

Question : P, Q and R are partners sharing profit and losses in the ratio of 3: 2: 1. Q retires selling his share of profit to P and R for Rs 54,000 being paid by P and Rs 36,000 being paid by R. Calculate new profit sharing ratio.

Option 1: 3:2

Option 2: 7:3

Option 3: 5:3

Option 4: None of the above

Question : Hari, Mohan and Sohan are partners sharing profit and losses in the ratio of 5:3:2.  Mohan died. His share  of profit  is to be taken by Hari and sohan in the ratio of 2:1. Calculate the new profit-sharing ratio and also calculate the gaining ratio

Option 1: New ratio 7:3 and Gaining ratio 2:1

Option 2: New ratio 7:3 and Gaining ratio 2:1

Option 3: Both A and B are correct

Option 4: None of the above 

Question : Hari, Mohan and Sohan are partners sharing profit and losses in the ratio of 5:3:2.  Mohan died. His share  of profit  is to be taken by Hari and sohan in the ratio of 2:1. Calculate the new profit-sharing ratio and also calculate the gaining ratio

Option 1: New ratio 7:3 and Gaining ratio 2:1

Option 2: New ratio 7:3 and Gaining ratio 2:1

Option 3: Both A and B are correct

Option 4: None of the above 

Question : X, Y and Z are partners sharing profit and losses in the ratio of 3:2:1. Y died, and  X and Z share profit and losses in the ratio of 3:2. Their gaining ratio will be 

Option 1: 3:1

Option 2: 1:3

Option 3: 3:7 

Option 4: None of the above