What will be share of deceased partner, whose ratio was \(\frac{1}{4}\), if the turnover in year of death till the date of death was ₹8,00,000 and in previous year was ₹20,00,000? Profit in previous year was ₹ 4,00,000.

In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the:

On death of a partner, his share in the profits of the firm till the date of this death is transferred to the:

Following are the factors affecting goodwill except

Which among the following are the modes of dissolution? (A) Dissolution by nature (B) Compulsory Dissolution (C) Dissolution by Agreement (D) Dissolution by Notice Choose the correct answer from the option given below:

Valuation of Goodwill takes place on which of the following occasions: (A) Incorporation of a new business (B) Change in profit sharing ratio (C) Amalgamation of partnership firms (D) Admission of a partner (E) Dissolution of firm or closure of business Choose the correct answer…

On 01.04.2022 X and Y decided to dissolve their firm. On the date of dissolution, Goodwill appeared at ₹5,00,000 in the Balance Sheet. Goodwill will be:

A firm earned ₹60,000 as profit, the normal rate of return being 10%. Assets of the firm are ₹ 7,20,000 (excluding goodwill) and Liabilities are ₹2,40,000. Find the value of Goodwill by Capitalisation of Average Profit method.

If X's share of profit was to be calculated on the basis of Average Profit of the last three years, which were ₹ 1,36,000 for 2018-19, ₹ 1,54,000 for 2019-20 and ₹1,00,000 for 2020-21. X's share of profit for the period from 1st April, 2020 to June 30, 2020 shall be calculated on…