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On retirement of a prtner, goodwill will...

On retirement of a prtner, goodwill will be credited to the Capital Account of :

A

Retiring Partner

B

Remaining Partners

C

All partners

D

None of the Above

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The correct Answer is:
A
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A and B are in partnership sharing profits in the ratio of 3 : 2. They take C as a new partner. Goodwill of the firm is valued at Rs.3,00,000 and C brings Rs.30,000 as his share of goodwill in cash which is entirely credited to the Capital Account of A. New profit sharing ratio will be :

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DK GOEL-RETIREMENT OR DEATH OF A PARTNER-Multiple Choice Questions
  1. What journal entry will be recorded for writing off the goodwill alrea...

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  2. What journal entry will be recorded for deceased partner's share in p...

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  3. On retirement of a prtner, goodwill will be credited to the Capital Ac...

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  4. On the death of a partner, the amount due to him will be credited to :

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  5. How goodwill is recorded on the retirement of a partner ?

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  6. A, B and C partners in 3: 4:2 B wants to retire from the firm. The pro...

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  7. A, B and C are partners sharing profits in the ratio of 5:2:1. If the ...

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  8. P, Q and R are partners sharing profits in the ratio of 5:4:3. Q retir...

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  9. A, B and C are partners sharing profits in the ratio of 1//2: 1//4: 1/...

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  10. A, B and C are partners sharing profits in the ratio of 1//4:3//10: 9/...

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  11. X, Y and Z have been sharing profits in the ratio of 4:2:1 Z retires. ...

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  12. P, Q and R have been sharing profits and losses in the ratio of 5:3:2....

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  13. A, B and C share profits and losses of the firm equally. B retires fro...

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  14. P, Q and R have been sharing profits in the ratio of 8:5:3. P retire...

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  15. A, B and C are equal partners. C retires. He surrenders 3//5th of his ...

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  16. P, Q and R partners sharing profits in the ratio of 4:3:2. Q retires a...

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  17. L, P and G are three partners sharing profit in the ratio 15:9:8. G Re...

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  18. On 1st April, 2019 A , B and C were partners sharing profits and losse...

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  19. B, P and L sharing profits in the ratio 4:3:2. B retires, P and L deci...

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  20. P, Q and R were partners sharing profits in the ratio 2:2:1. Q retires...

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