A and B are partners sharing profits and losses in the ratio of 3 : 1. It was decided that with effect from 1st April, 2015 the profit sharing ratio will be 5 : 3, Goodwill is to be val ued at 2 year's purchase of average of 3 year's profits. The profits for the years ending 31st March 2013, 2014 and 2015 were Rs. 36,000, Rs. 32,000 and Rs. 40,000 respectively.
Pass necessary journal entry for the treatment of goodwill.

A, B and C are partner sharing profits and losses in the ratio of 5 : 4 : 1. It was decided that with effect from 1st April, 2016 the profit sharing ratio will be 9 : 6 : 5. Goodwill is to be valued at 2 year's purchase of average of 3 year's profits. The profits of 2013-14, 2014-15 and 2015 -16 were Rs. 48,000, Rs. 42,000 and Rs. 60,000 respectively. Pass the necessary journal entry for the treatment of goodwill.

P and Q were partners sharing profits and losses in the ratio of 3:2. They decided that with effect from 1st january, 2019 they would share profits and losses in the ratio of 5:3. Goodwill is valued at Rs 1,28,000. In adjustment entry:

A, B and C were partners sharing profits and losses in the ratio of 7 : 3 : 2. From 1st April 2015, they decided to share profits and losses in the ratio of 8 : 4 : 3. Goodwill is to be valued at the average of three year's profits preceding the date of change in profit sharing ratio. The profits for the years ending 31st March 2012, 2013, 2014 and 2015 were Rs. 52,000, Rs. 48,000, Rs. 60,000 and Rs. 90,000 respectively. Give the necessary journal entry.

A and B have been carrying on business in partneship with fixed capitals of Rs. 2,40,000 and Rs. 1,20,000 respectively and sharing profits in the same proportion. They decided that with effect from from April 1, 2016 they would share profits and losses in the ratio of 3 : 2. For this purpose goodwill is to be valued at three year's purchase of the average of precending three year's profits. The profits for the years ending 31st March were 2013 : Rs. 75,000, 2014 : Rs. 60,000, 2015 Rs. 80,000 and 2016 Rs. 1,30,000. Give the necessary journal entry.

X and Y were partners sharing profits and losses in the ratio of 3 : 1. They decided that with effect from 1st April 2016, they would share profits and losses in the ratio of 1 : 3. The partnership deed provides that in the event of any change in profit sharing ratio, the goodwill should be valued at the total of two year's profits preceding the date the decision became effective. The profits for 2013-14, 2014-15 and 2015-16 were Rs. 60,000, Rs. 70,000 and Rs. 90,000 respectively. Pass the necessary Journal entry to give effect to the above arrangement.

Goodwill is to be valued at three years' purchase of four years' average profit. Profits for last four years ending on 31st March of the firm were: 2016 - Rs. 12,000, 2017 - Rs. 18,000, 2018 - Rs. 16,000, 2019 - Rs. 14,000. Calculate ammount of Goodwill.

Mohan and Sohan were partners in a firm sharing profits and losses in the ratio of 3 : 2. They admitted Ram for 1/4th share on 1st April, 2019. It was agreed that goodwill of the will be valued at 3 year's purchase of the average profit of last 4 years ended 31st March, were RS.50,000 for 2015-16, RS.60,000 for 2016-17, RS.90,000 for 2017-18 and RS.70,000 for 2018-19. Ram did and not bring his share of goodwill premium in cash. Record the necessary Journal entries in the books of the firm on Ram's admission when: (a) Goodwill appears in the books at RS.2,02,500. (b) Goodwill appears in the books at RS.2,500. (c) Good will appears in the books at RS.2,05,000.