Goodwill of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.

Related MCQs

• An incoming partner pays his share of goodwill in cash, and profit sharing ration of old partner is changed, Goodwill be distributed among old partners:
• Value of goodwill agreed upon Rs. 30000 on C, S admission and allowing him ¼ share of total profit Goodwill is brought in cash, the amount of goodwill be as:
• Goodwill is valued as two years purchase of the average profits of three previous years are Rs. 15000, the value of goodwill be:
• At the time of admission an incoming partner contributes as goodwill:
• The accounting procedure at the retirement of partner is valued:
• If the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement:
• At the time of a new partner Goodwill:
• A person who receives a share of profits from one of the regular partner is called:
• When an asset is acquired on hire purchase system, the asset account is debited with _______ of the assets in the books of the hire purchaser.
• In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of: