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:

Related MCQs

• Goodwill of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.
• Old profit sharing ratio minus new profit sharing ration is equal to:
• 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:
• At the time of admission an incoming partner contributes as goodwill:
• Loss on realization is distributed among partners:
• Goodwill is valued as two years purchase of the average profits of three previous years are Rs. 15000, the value of goodwill be:
• A partners has to pay interest on drawings what is the entry in the personal A/c of the partner?
• At the time of a new partner Goodwill:
• In the absence of an agreement profit and loss are divided by partners in the ratio of:
• If the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement: