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 : X, Yand Zare partners sharing profits in the ratio of 2: 3: 5. Goodwill is appearing in their books at a value of Rs. 6,00,000. X retires and on the day of his retirement Goodwill is valued at Rs. 4,50,000. Yand Z decided to share future profits equally. Amount payable to X is ___________.

Option 1: 30,000

Option 2: 90,000

Option 3: 1,20,000

Option 4: None of the above

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 : J, M and R are sharing profits and losses equally. R retires and the goodwill is appearing in the books at Rs. 30,000. Goodwill of the firm is valued at Rs. 1,50,000. Calculate the net amount to be credited to R's Capital A/c.

Option 1: Rs 60,000

Option 2: Rs 50,000

Option 3: Rs 40,000

Option 4: Rs 10,000

Question : Partners P, Q, and R split earnings in the following proportions: 7: 5: 3. When P retires, it is decided that Q and R will share profits at the same ratio as P and Q did. Calculate the Gaining Ratio and the New Profit-Sharing Ratio.

Option 1: New Ratio between Q and R is  7 : 5

Gaining Ratio between Q and R is 8 :7

Option 2: New Ratio between Q and R is  2 : 3

Gaining Ratio between Q and R is 13 : 15

Option 3: New Ratio between Q and R is  7 : 5

Gaining Ratio between Q and R is 15 : 18

Option 4: None of the Above