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Class 12 · Accountancy
→When a new partner brings cash premium for goodwill, to whom is this amount credited?
Class 12 · Accountancy
→If the new partner does not bring goodwill in cash, the amount credited to old partners is debited to whose account?
Class 12 · Accountancy
→On the admission of a new partner, the premium received for goodwill is ₹21,000. The old partners’ sacrificing ratio is 2:5. How much of the goodwill premium will the first old partner receive?
Class 12 · Accountancy
→If premium for goodwill is distributed among old partners in sacrificing ratio, what does it show?
Class 12 · Accountancy
→The firm's total goodwill is (₹90000) and the new partner takes (1/10) share. How much goodwill will the new partner bring?
Class 12 · Accountancy
→On admission of a new partner, the amount of goodwill is based on what?
Class 12 · Accountancy
→What is the easiest rule to remember in goodwill accounting?
Class 12 · Accountancy
→If the question does not clearly instruct to open Goodwill Account, what is the usual caution?
Class 12 · Accountancy
→Premium for Goodwill Account may be considered what kind of account?
Class 12 · Accountancy
→Why is premium for goodwill not treated as normal income of the firm?
Class 12 · Accountancy
→The total goodwill is ₹85,000 and the partners’ new profit-sharing ratio is 3:1:1. What is the goodwill attributable to the third partner’s share?
Class 12 · Accountancy
→In the new profit-sharing ratio of 3:1:1, the third partner is the incoming partner. What will be the incoming partner’s share of the total profit?
Class 12 · Accountancy
→If an old partner makes no sacrifice, how much will he receive from premium for goodwill?
Class 12 · Accountancy
→If old partners give profit share to the new partner in old ratio, in which ratio will premium be distributed?
Class 12 · Accountancy
→A premium of ₹16,000 received from the new partner is deposited into the bank and the entire amount is withdrawn immediately. What will be the net effect on the Bank account?
Class 12 · Accountancy
→When the old partners withdraw the amount of goodwill premium, on which side will the old partners’ capital accounts be recorded?
Class 12 · Accountancy
→When the old partners withdraw the amount of goodwill premium, on which side is the Bank Account recorded in the journal entry for the withdrawal?
Class 12 · Accountancy
→If part of premium is brought in cash, what will Bank Account be in the entry for cash part?
Class 12 · Accountancy
→The total goodwill amount to be brought by a new partner is ₹20,000, of which he brings ₹12,000 in cash. What balance amount will be adjusted through his account?
Class 12 · Accountancy
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