Ahuja and Barua are partners in a firm sharing profits and losses in the ratio of 3:2. They decide to admit Chaudhary into partnership for 1/5 share of profits, which he acquires equally from Ahuja and Barua. Goodwill is valued at Rs. 30,000. Chaudhary brings in Rs. 16,000 as his capital but is not in a position to bring any amount for goodwill. No goodwill account exists in books of the firm. Goodwill account is to be raised at full value. Record the necessary journal entries.

X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership with (1)/(5) th share in profits which he acquires equally from X and Y, Z brings in Rs.40,000 as goodwill in cash. Goodwill amount will be credited to :

A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C into partnership for 1/4th share in profits which he takes 1/6th from A and 1/12th from B. C brings RS 18,000 as goodwill out of his share of RS 30,000. Pass necessary Journal entries to record this arrangement.

Srikant and Raman are partners in a firm sharing profits and losses in the ratio of 3:2. They decide to admit Venkat into partnership with 1/3 share in the profits. Venkat brings in Rs 30,000 as his capital. He also promises to bring in the necessary amount for his share of goodwill. On the date of admission, the goodwill has been valued at Rs 24,000 and the goodwill account already appears in the books at Rs 12,000. Venkat brings in the necessary amount for his share of goodwill and agrees that the existing goodwill account be written off. Record the necessary journal entries in the books of the firm.

Vijay and Sanjay are partners in a firm sharing profits and losses in the ratio of 3:2. They decide to admit Ajay into partnership with 1/4 share in profits. Ajay brings in Rs. 30,000 for capital and the requisite amount of premium in cash. The goodwill of the firm is valued at Rs. 20,000. The new profit sharing ratio is 2:1:1. Vijay and Sanjay withdraw their share of goodwill. Give necessary journal entries

A and B are partners sharing profits and losses in the ratio of 3 : 2. They admit C into partnership for 1/4th share, which he takes 1/6th from A and 1/12th from B. Goodwill appears in the books at 20,000. C brings RS 18,000 as goodwill out of his share of RS 30,000. It was decided that shortfall in amount shall be debited to C's Current Account. Pass necessary Journal entries for the above.

A and B are partners in a firm sharing profits and losses in the proportion of 3/4th and 1/4th respectively. On 1st April, 2019, they take C into partnership for 1/5th share of profits. C acquires his share from A and B in the ratio of 2 : 1. Value of goodwill is determined at RS 24,000. At present, C is not in a position to bring amount towaerds goodwill. Give necessary Journal entries under the following alternative cases: Case 1. When the Goodwill Account appeare at RS 10,000 in the books of the firm. Case 2. When Goodwill Account is not appearing in the books of the 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.

Aditya and Balan are partners sharing profits and losses in 3:2 ratio. They admitted Christopher for 1/4 share in the profits. The new profit sharing ratio agreed was 2:1:1. Christopher brought Rs. 50,000 for his capital. His share of goodwill was agreed to at Rs. 15,000. Christopher could bring only Rs. 10,000 out of his share of goodwill. Record necessary journal entries in the books of the firm?

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: