Sunil and Dalip are partners in a firm sharing profits and losses in the ratio of 5:3. Sachin is admitted in the firm for 1/5 share of profits. He is to bring in Rs. 20,000 as capital and Rs. 4,000 as his share of goodwill. Give the necessary journal entries,
(a) When the amount of goodwill is retained in the business.
(b) When the amount of goodwill is fully withdrawn.
(c) When 50% of the amount of goodwill is fully withdrawn.

Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5:3. They admitted Ghosh as a new partner for 1//5 share of profits. Ghosh is to bring in Rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium. Give the necessary journal entries: (a) When the amount of goodwill is retained in the business. (b) When the amount of goodwill is fully withdrawn. (c) When 50% of the amount of goodwill is withdrawn. (d) When goodwill is paid privately.

Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5th share of profits. Ghosh is to bring in RS.20,000 as capital and RS.4,000 as his share of goodwill premium. Give the necessary Journal entries: (a) When the amount of goodwill is retained in the business. (b) When the amount of goodwill is fully withdrawn. (c) When 50% of the amount of goodwill is withdrawn. (d) When goodwill is paid privately.

(When Premium for Goodwill is paid privately). X and Y are partners in a firm sharing profits and losses in the ratio 3:2. They admit Z as partner for 1/4th share. Z paid RS 80,000 directly to X and Y as his share of goodwill. Pass the necessary Journal entry in the books of firm.

Ram and Rahim are partners in a firm sharing profits and losses in the ratio of 3:2. Rahul is admitted into partnership for 1/3 share in profits. He brings in Rs. 10,000 as capital, but is not in a position to bring any amount for his share of goodwill which has been valued at Rs. 30,000. Give necessary journal entries under each of the following situations: (a) When there is no goodwill appearing in the books of the firm, (b) When the goodwill appears at Rs 15,000 in the books of the firm, and (c) When the goodwill appears at Rs. 36,000 in the books of the firm.

M and J are partners in a firm sharing profits in the ratio of 3 : 2. They admit R as a new partner. The new profit-sharing ratio between M, J and R will be 5 : 3 : 2, R brought in RS.25,000 for his share of premium for goodwill. Pass necessary Journal entries for the treatment of goodwill.

X and Y are partners in a firm sharing profits and losses in 4:3 ratio. They admitted Z for 1/8 share. Z brought Rs. 20,000 for his capital and Rs. 7,000 for his 1/8 share of goodwill. Subsequently X, Y and Z decided to show goodwill in their books at Rs. 40,000. Show necessary journal entries in the books of X, Y and Z?

X and Y are partners sharing profits in the ratio 2 : 3. They admitted Z for 1/5th share of profits, for which he paid Rs.1,20,000 against capital and Rs.60,000 as goodwill. Find the capital balances for each partner taking Z's capital as base capital.

A and B are partners sharing profits in the ratio of 3 : 2. Their books show goodwill at RS.2,000. C is admitted as parter for 1/4th share of profits nad brings in RS.10,000 as his capital but is not able to bring in cash for his share of goodwill RS.3,000. Draft Journal entries.

A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They admit C into partnership for 1/5th share. C brings RS.30,000 as capital and RS.10,000 as goodwill. At the time of admission of C, goodwill appeared in the Balance Sheet of A and B at RS.3,000. New profit-sharing ratio of the partners will be 5 : 3 : 2. Pass necessary Journal entries.

A and B are partners sharing profits and losses in the ratio of 3 : 2. C is admitted into partnership for (1)/(5) th share in profit. He pays Rs.1,00,000 as goodwill. The ratio of the partners A, B and C in the new firm would be 3 : 1 : 1. Goodwill will be credited to: