Deepa, Neeru and Shilpa were partners in a firm sharing profits in the ratio of `5 : 3 : 2`. Neeru retired and the new profit sharing ratio between Deepa and Shilpa was `2 : 3`. On Neeru's tetirement, the goodwill of the firm was valued at Rs. 1,20,000. Record necessary journal entry for the treatment of goodwill on Neeru's retirement.

A, B and C are the partner sharing profits in the ratio 3 : 2 : 1 , C retires . What will be the new profit - sharing ratio?

Anant, Gulab and Khushbu were partners in a firm sharing profits in the ratio of 5 : 3 : 2. From 1.4.2014, they decided to share the profits equally, For the purpose the goodwill of the firm was valued at Rs. 2,40,000. Pass necessary journal entry for the treatment of goodwill on change in the profit sharing ratio of Anant, Gulab and Khushbu.

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.