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1.
P, Q and R were partners sharing profits in the ratio of their Capital
2.
A, B and C were partners sharing profits and losses in the ratio of 2 : 2 : 1. Books are closed on 31st March every year. C dies on 5th November, 2018. Under the partnership deed, the executors of the deceased partner are entitled to his share of profit to the date of death, calculated on the basis of last year's profit. Profit for the year ended 31st March, 2018 was Rs. 2,40,000. C's share of profit will be :
3.
A, B and C are partners in a firm sharing profit/loss in the ratio of 2 : 2 : 1. On March 31, 2019, C died. Accounts are closed on Dec., 31 every year. The sales for the year 2018 was Rs. 6,00,000 and the profits were ?60,000. The sales for the period from Jan. 1, 2019 to March 31, 2019 were ?2,00,000. The share of deceased partner in the current year's profits on the basis of sales is :
4.
X, Y and Z are partners sharing profits in the ratio of 2 : 3 : 5. Goodwill already appearing in their books at a value of Rs. 60,000. X retires and Yand decided to share future profits equally. Journal entry w ill be :
5.
P, Q and R were partners sharing profits in the ratio 5 : 3 : 2 respectively. P retires from the firm and Q and R decide to share future profits equally. Goodwill is valued at Rs. 50,000. Adjustment entry for goodwill will be :
6.
A, B and C are partners sharing profits in the ratio of 3 : 4 : 5. B retires and the goodwill of the firm is valued at Rs. 42,000. A and C decide to share profits in the ratio of 3 : 4. Journal entry will be :
7.
X, Y and Z were partners in a firm sharing profits in the ratio of 3 : 2 : 1. X retired and the new profit sharing ratio between Yand Z will be 5 : 4. On Xs retirement the goodwill of the firm was valued at Rs. 54,000. Journal entry will be :
8.
P, Q and R share profits in the ratio of 5:4:3.// retires and the new ratio is 5 : 3. If R is given ?6,000 as goodwill, journal entry will be :
9.
A, B and C are sharing profits in the ratio of 3 : 2 : 1. B retires and on the day of B's retirement Goodwill is valued at Rs. 60,000. A and C decided to share future profits in the ratio of 3 : 2. Journal entry will be :
10.
A, B and C are partners with profit sharing ratio 4 : 3 : 2. B retires and goodwill was valued Rs. 1,08,000. If A & C share profits in 5 : 3, find out the goodwill shared by A and C in favour of B.