Question : X, Y and Z were partners in a firm sharing profis in 2:3:5 ratio. They decided to share the future profits in 5:3:2. For this purpose the goodwill of the firm was valued at 12,00,000. In adjustment entry for the treatment of goodwill due to change in the profit sharing ratio :
 

Option 1: Cr. X by Rs 240000; Dr. Y by Rs 240000

Option 2: Cr. X by Rs 600000; Dr. Z by Rs 600000
 

Option 3: Cr. X by Rs 360000; Dr. Z by Rs 360000

 

Option 4: Dr. X by Rs 360000; Cr. Z by Rs 360000

Question : Due to the change in the profit sharing ratio, X sacrifices is 3/10 while Z’s Gain is 3/10. They decide to record the effect of the following without affecting the book  figure, by passing an adjustment entry 

General Reserve Cr   Rs

Question : A, B and C were partners sharing profit and losses in the ratio of 7:3:2. From 1st April 2020 they decided to share profit and losses in the ratio of 8:4:3. Goodwill is Rs 2,40,000. In adjustment entry for goodwill 

Question : X and Y are partners sharing profits and losses in the ratio of 3 : 2. They admit Z into partnership with 1/5th 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 -

Question : R, B and L were partners sharing profits and losses in the ratio of 8:4:3. From 1st January 2019 they decided to share profits and losses in the ratio of 7:3:2. Goodwill is Rs 60,000 adjustment entry for goodwill:
 

Question : X, Y and Z are partners sharing profits in the ratio of 5: 3: 7. X retired from the firm. Y and Z decided to share future profits in the ratio of 2: 3. The adjusted Capital Accounts of Y and Z showed a balance of Rs. 49,500 and Rs. 1,05,750 respectively. The total amount to be