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Class 12 · Accountancy · Medium
→In the entry for a deceased partner's goodwill share, which accounts are debited?
Class 12 · Accountancy · Easy
→If existing goodwill account balance is (₹18000) and old partners are equal how much is debited to each?
Class 12 · Accountancy · Easy
→Why does the retiring partner receive an amount in goodwill settlement?
Class 12 · Accountancy · Easy
→If the partnership deed states the method of goodwill settlement, what should be done?
Class 12 · Accountancy · Easy
→A retiring partner’s share of goodwill is ₹30,000. Partners B and C will bear it in the gaining ratio of 4:1. What amount should be debited to C’s account?
Class 12 · Accountancy · Easy
→If total value of goodwill is not given what should be done first?
Class 12 · Accountancy · Easy
→Which fact must be considered while determining the retiring partner’s goodwill adjustment?
Class 12 · Accountancy · Easy
→Who receives the credit in goodwill settlement?
Class 12 · Accountancy · Medium
→If the retiring partner's goodwill share is ₹36,000 and remaining partners gain in the ratio 2:1, what is the burden on the first partner?
Class 12 · Accountancy · Easy
→A retiring partner’s share of goodwill is valued at ₹24,000. If B and C share the gain in the ratio of 1:2, what amount will be debited to B’s Capital Account?
Class 12 · Accountancy · Easy
→If the average profit is ₹25,000 and the number of years’ purchase is 4, what will be the goodwill of the firm under the average profit method?
Class 12 · Accountancy · Easy
→In which method is average profit multiplied by years' purchase?
Class 12 · Accountancy · Easy
→In which situation may valuation of goodwill be necessary in a firm?
Class 12 · Accountancy · Easy
→A, B and C are partners sharing profits in the ratio 3:2:1. When C retires, A and B continue the business in the profit-sharing ratio 3:2. What is the gaining ratio of A and B?
Class 12 · Accountancy · Easy
→If remaining partners continue in the old ratio what is the gaining ratio equal to?
Class 12 · Accountancy · Easy
→If the old profit-sharing ratio of A, B and C is \(2:2:1\) and C retires, what fraction of the firm's goodwill is due to C?
Class 12 · Accountancy · Easy
→What type of adjustment is goodwill settlement on retirement?
Class 12 · Accountancy · Easy
→If the firm's goodwill is ₹75,000 and the retiring partner's share in the old profit-sharing ratio is \(\frac{1}{5}\), what amount is payable to the partner as compensation for goodwill?
Class 12 · Accountancy · Easy
→When old recorded goodwill is written off which account is debited?
Class 12 · Accountancy · Easy
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