Question : A, B and C are in partnership sharing profits and losses in the ratio of 5: 4: 1. Two new partners D and E are admitted. Profits are to be shared in the ratio of 3: 4: 2: 2:1 respectively. D is to pay Rs. 30,000 for his share of goodwill but E is unable to pay for goodwill. Both the new partners introduced Rs. 40,000 each as their capital.
Choose the correct option.
 

Option 1: Debiting Bank account 1,10,000 and  crediting D’s capital account Rs 40,000 and E’s capital account Rs 40,000  and premium for goodwill account with Rs 30,000
 

Option 2: Debiting premium for goodwill account with Rs 30,000  and  crediting A’s capital account with Rs 15,000 and B’s capital account with Rs 5000 and C’s capital account Rs 10,000
 

Option 3: Debiting premium for goodwill account Rs 30,000  and debiting  c’s capital account 12,000 and E’s current account 15000 and crediting  A’s capital account 45,000 and B’s capital account Rs 12,000

Option 4: Both 1 and 3 

Question : X and Y are partners in a firm sharing profit in the ratio of 4:3. On 1st April 2016, they admitted Z as a new partner. Z brought Rs 1,00,000 for his capital and Rs 21,000 for 1/3rd share of goodwill premium. On Z's admission goodwill appeared in the books of the firm

Question : 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 exists in the books at Rs. 20,000. C brings Rs. 18,000 as goodwill out of his share of Rs. 30,000. It

Question : Bina and Tina are partners sharing profit and losses in the ratio of 3:2. They changed their profit-sharing ratio to 5:3 w.e.f  1st April 2020. The assets were revalued and liabilities were re-assessed on that date which resulted in a Loss of Rs 80,000. It  will be

Question : 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 admit C into partnership from 1st April, 2020 on the following terms for I/3rd share in future profits:
(i) That C to bring Rs. 2,00,000 as capital.
(ii)

Question : A, B and C are partners sharing profits in a ratio of 5:3:2. D is admitted and new profit sharing ratio is agreed at 1:2:2:1. Goodwill is valued at Rs 1,20,000. What entry will be passed if a goodwill account is to be raised and written off?