List of top Accountancy Questions on New Partner

Harish and Munish are partners in a firm sharing profits and losses in the ratio of 3:2. Rakesh is admitted into partnership for 1/3 share in profits. He brings in Rs. 50,000 as capital, but not in a position to bring any amount for his share of goodwill which has been valued at Rs. 15,000. Give necessary journal entry for recording goodwill, when there is no goodwill appearing in the books of the firm.

X and Y are partners in a firm sharing profits in the ratio of 3:2. They admitted Z as a new partner for 1/4 share. The new profit sharing ratio between X and Y will be 2:1. Calculate their sacrificing ratio.

Ramesh and Sohan were partners in a firm. Their capitals were Rs. 40,000 and Rs. 60,000 respectively. They agreed to admit Aman as a partner for 1/4th share on the term that he brings Rs. 30,000 as capital and Rs. 40,000 as goodwill. Aman paid his capital money but in respect of goodwill he could bring only Rs. 24,000.

From the above information pass necessary journal entries and prepare Partners' Capital A/c and Aman's Current A/c.

What is the difference between sacrifice ratio and profit gaining ratio?

Which Journal Entries are passed in the books of the firm at the time of admission of a new partner?

A and B are partners sharing profits in the ratio of \( 3:2 \). C is admitted as a new partner for a \( \frac{1}{5} \)th share in the profits, which he acquires entirely from A. What will be the new profit-sharing ratio of A, B, and C?

Which of the following is not an essential feature of partnership?

X and Y are partners sharing profits in the ratio of \(2:1\). They admit Z into partnership for \( \frac{1}{4} \) share in profits for which he brings Rs.20,000 as his share of capital. Hence, the adjusted capitals of X and Y will be:

Which of the following is not an essential feature of partnership?