Question : X, Y  and Z  are partners in a firm sharing profits and losses in the ratio of 4 : 3: 1. As per the terms of Partnership deed on the death of any partner, Goodwill of deceased
Partner was to be valued at 50% of the net profits credited to that Partner’s Capital A/c during the last three completed years before her death. Books are closed on 31st December each year. X  died on 29th February 2016. The profits for the last five years were :

2011 — Rs.60,000, 2012 — Rs.97,000, 2013 — Rs.1,05,000, 2014 — Rs.30,000 and 2015 —Rs.84,000
On the date of X’s death, Building was found under valued by Rs.80,000, which was to be considered.  The new profit sharing ratio between Y  and Z will be equal.

Q.If X’s share of goodwill adjusted, Y ‘s capital account  will be  -------

Option 1: Debited by Rs 13,687

Option 2: Debited by Rs 41,062

Option 3: Credited by 13,687

Option 4: Credited by 41,062

Question : A, B, C and D are partners sharing profits in the ratio of 1:4:3:2. D died on 15th December 2021 and the goodwill is valued at Rs.2,00,000. D's share of goodwill is to be adjusted into the capital accounts of A, B and C who decide to share future profits in the ratio of 4:3:3. Choose the correct journal entry.

Option 1: A debited by Rs 60,000 and debited B by Rs 20,000 and credited D by Rs 80,000

Option 2: Debited A by Rs 60,000 and credited B by Rs 20,000 and credited D by Rs 40,000

Option 3: Debited A by Rs 40,000 and B debited by Rs 40,000 and Credited D by Rs 80,000

Option 4: None of the above

Question : D, E, F, P and Z were partners in a firm sharing profits in the ratio 5:4:3:2:1 respectively. Unfortunately, P and Z met with a tragic car accident in which both of them died. The goodwill of the firm was valued at Rs. 1,50,000 and D, E and F decided to share future profits in the ratio of 4:6:5 respectively.
At the time of adjustment  of goodwill, E’s capital account will be debited/credited by Rs ---------

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 20,000

Option 3: Debited by Rs 20,000

Option 4: Credited by Rs 10,000

Question : D, E, F, P and Z were partners in a firm sharing profits in the ratio 5:4:3:2:1 respectively. Unfortunately, P and Z met with a tragic car accident in which both of them died. The goodwill of the firm was valued at Rs. 1,50,000 and D, E and F decided to share future profits in the ratio of 4:6:5 respectively.
At the time of adjustment of goodwill, F’s capital account will be debited/ credited by Rs ---------

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 20,000

Option 3: Debited by Rs 20,000

Option 4: Credited by Rs 10,000

Question : D, E, F, P and Z were partners in a firm sharing profits in the ratio 5:4:3:2:1 respectively. Unfortunately, P and Z met with a tragic car accident in which both of them died.
The goodwill of the firm was valued at Rs. 1,50,000 and D, E and F decided to share future profits in the ratio of 4:6:5 respectively.
At the time of adjustment of goodwill, Z's capital account will be debited/ credited by Rs ---------

Option 1: Debited by Rs 10,000

Option 2: Credited by Rs 20,000

Option 3: Debited by Rs 20,000

Option 4: Credited by Rs 10,000