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P, Q and R share profits in the ratio of...

P, Q and R share profits in the ratio of 5 : 3 : 2. S is entitled for `(1)/(5)`th share in profits which he acquires equally from P, Q and R. Goodwill of the firm is to be valued at three year's purchase of last four year's profits which are Rs.50,000, Rs.60,000, (-) Rs.30,000 and Rs.40,000. S cannot bring his share of goodwill in cash. Credit will be given to :

A

P Rs.30,000, Q Rs.30,000, R Rs.30,000

B

P Rs.6,000, Q Rs.6,000, R Rs.6,000

C

P Rs.45,000, Q Rs.27,000, R Rs.18,000

D

P Rs.9,000, Q Rs.9,000, R Rs.9,000

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The correct Answer is:
B
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DK GOEL-ADMISSION OF A PARTNER -MCQ Treatment of Goodwill :
  1. X and Y are partners in a firm sharing profits in the ratio of 5 : 3. ...

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  2. A and B are partners sharing profits in the ratio of 3 : 2. They admit...

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  3. P, Q and R share profits in the ratio of 5 : 3 : 2. S is entitled for ...

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  4. When a new partner brings his share of goodwill in cash, the amount is...

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  5. When a new partner does not not bring his share of goodwill in cash, t...

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  6. If, at the time of admission, some profit and loss account balance app...

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  7. If at the time of admission, there is some unrecorded liability, it wi...

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  8. If the new partner brings his share of goodwill in cash, it will be sh...

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  9. A and B share profits and losses equally. They have Rs.20,000 each as ...

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  10. In the absence of an express agreement as to who will contribute to ne...

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  11. When a new partner brings goodwill in Cash, it is credited to :

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  12. If the incoming partner brings the amount of goodwill in Cash and also...

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  13. If, at the time of admission, the revaluation A/c shows a profit, it s...

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  14. Revaluation Account or Profit and Loss Adjustment A/c is a

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  15. In case of admission of a partner, the entry for unrecorded investment...

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  16. When the balance sheet is prepared after the new partnership agreement...

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  17. Goodwill of a firm of A and B is valued at Rs. 30,000. Goodwill is app...

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  18. A and B are partners of a partnership firm sharing profits in the rati...

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  19. X and Y are partners sharing profits in the ratio 5 : 3. They admitted...

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  20. Ramesh and Suresh are partners sharing profits in the ratio of 2 : 1 r...

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