X and Y are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2019, they admit Z as a partner for 1/4th share in the profits. Z contributed following assets towards his capital and for his share of goodwill:
Stock RS.60,000, Debtors RS.80,000, Land RS.1,00,000, Plant and Machinery RS.40,000.
On the date of admission of Z, the goodwill of the firm was valued at RS.6,00,000.
Pass necessary Journal entries in the books of the firm on Z's admission.

(Premium brought in Kind). X and Y are partners in a firm sharing profits in the ratio of 3 : 2. On 1st April, 2019, they admit Z as new partner for 3/13th share in the profits. New ratio will be 5 :5 :3. Z contributed the following assets to his capital and his share for goodwill: Stock RS 80, 000, Debtors RS 1,20,000, Land RS 2,00,000, Plant and Machinery RS 1,00,2000. On the date of admission of Z, goodwill of the firm was valued at RS 10,40,000, Pass necessary Journal entries in the books of the firm on Z's admission.

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.

(Premium for Goodwill withdrawn Partially). A and B were partners in a firm sharing profits in the ratio of 4 : 3. They admitted C as a new partner for 3/7th share in the profits of the firm. New profit-sharing ratio will be 2 : 2 : 3. C brought RS 2,00,000 as his capital and RS 60,000 for his share of premium for goodwill, half of which was withdrawn by A and B from the firm. Calculate sacrficing ratio and pass necessary Journal entries in the books of the firm for the above transactions.

A and B were partners in a firm sahring profits and losses in the ratio of 3 : 2. they admitted C as a new partner for 3/7th share in the profit and the new profit-sharing ratio will be 2 : 2 : 3. C brought RS.2,00,000 as his capital and RS.1,50,000 as premium for goodwill. Half of their share of premium was withdrawn by A and B from the firm. Calculate sacrificing ratio and pass necessary Journal entries for the above transactions in the books of the firm.

(New Partner does not bring Cash for Goodwill). A and B who share profits in the ratio of 3 : 2 had capitals of RS 2,00,000 and RS 1,50,000 respectively. They agree to admit C into partnership from 1st April, 2019 on the following terms for 1/3rd share in future profits: (i) That C to bring RS 2,00,000 as capital. (ii) That C is unable to bring his share of goodwill of the firm is valued at RS 1,50,000. Pass necessary Journal entries in the books of the firm.

X and Y are partners in a firm sharing profits in the ratio of 3 : 2. They admitted Z as partner for 1/4th share. At the time of admission of Z, Stock (Book Value RS.1,00,000) is to be reduced by 40% and Furniture (Book Value RS.60,000) is to be reduced to 40%. Pass the necessary Journal entries.

A and B are partners in a firm with capital of RS.60,000 and RS.1,20,000 respectively. They decide to admit C into the partnership for 1/4th share in the future profits. C is to bring in a sum of RS.70,000 as his capital. Calculate amount of goodwill.

Aun and Bhagwan were partners in a firm sharing profits in the ratio 3 : 1. Goodwill appeared in the books at RS.4,40,000. Raja was admitted to the partnership. New profit-sharing ratio among Anu, Bhagwan and Raja was 2 : 2 : 1. Raja brought RS.1,00,000 for his capital and necessary cash for his goodwill premium. Goodwill of the firm was valued at RS.2,50,000. Record necessary Journal entries in the books of the firm for the above transactios.