Anshu and Nitu are partners, sharing profits in the ratio of 3:2. They admitted Jyoti as a new partner for 3/10 share which she acquired 2/10 from Anshu and 1/10 from Nitu. Calculate the new profit sharing ratio of Anshu, Nitu and Jyoti.

Kavita and Lalita are partners, sharing profits in the ratio of 2:1. They decide to admit Mohan for 1/4th share in future profits with a guaranteed amount of ₹25,000. Both Kavita and Lalita undertake to meet the liability arising due to the guaranteed amount to Mohan in their res…

The journal entry for treatment of goodwill, when a new partner brings his share of goodwill in cash and one of the old partners gains, involves the following: (A) Gaining Partner's Capital Account is debited (B) Premium for Goodwill Account is debited (C) Sacrificing Partner's C…

Match List-I with List-II List-I (Equal amount of drawings made) | List-II (Number of months for which interest is calculated) (A) At the end of each half year | (I) 4.5 months (B) At the beginning of each quarter | (II) 6.5 months (C) At the beginning of each month | (III) 7.5 m…

While preparing Cash Flow Statement, purchase of goodwill is treated as:

A, B and C are partners sharing profits in the ratio of 3:3:4. They decide to share the future equally. The sacrifice or gain of partners are:

The components of Computerised Accounting System are:

If there is no claim against Workmen Compensation Reserve, it is ______ at the admission of a partner. Fill in the blank with the correct answer from the options given below.

The Sales and Accounts Receivable Subsystem deals with: