(TEST - II) 29-10-2023, SUNDAY

Q. (1) A & B are partners, sharing profits in the ratio of 5 : 3, C is admitted for 1/4th share in the profits.
Calculate new profit sharing ratio and sacrifice ratio. {1}

Q. (2) A & B are partners, sharing profits in the ratio of 5 : 4. They admit C for a1/10th share of profits
which he acquires in equal proportions from both. find new profit sharing ratio & sacrifice ratio. {1}

Q. (3) X & Y are partners, sharing profits in 3 : 2. Z was admitted for1/5th share of profit. He acquired
1/3 share from X & 2/3 share from Y. Calculate new profit sharing ratio & sacrifice ratio. {1}

Q. (4) A & B are in partnership share profits and losses in the ratio of 3 : 2. C is admitted for 1/5th share.
C takes his entire share from B. Calculate new profit sharing ratio and sacrifice ratio of partners.{1}

Q. (5) A & B are in partnership sharing profits & losses in the ratio of 5 : 3. C is admitted as a partner
for 1/5th share which he takes 1/10th from A & 1/10th from B. Calculate new profit sharing ratio
and sacrifice ratio. {1}

Q. (6) A & B are partners in a firm, sharing profits & losses in the ratio of 7 : 3. C is admitted as a new
partner. A sacrifices 2/7th of his share in profits in favour of C and B 1/7th of his share in favour of
C. Calculate the new profit sharing ratio between A, B and C. {1}

Q. (7) A and B are partners in a firm, sharing profits & losses in the ratio 3 : 2. A surrenders 1/5th of his
share whereas B surrenders 2/5th of his share in favour of C, a new partner. Calculate new profit
sharing ratio and sacrifice ratio. {1}

Q. (8) A, B and C are partners in a firm, sharing profits in 3 : 2 : 1. D was admitted for 1/6th share in the
firm which was acquired from A & B. C’s share will remain unchanged. Calculate new profit sharing
ratio. {1}

Q. (9) A and B are equal partners. They admit C & D as partners with 1/8 and 1/6 share respectively.
What is the profit sharing ratio of all the partners ? {1}

Q. (10) A, B and C are partners sharing profit in the ratio of 5 : 3 : 2. They admit D into partnership. The
new profit sharing ratio of partners is 3 : 2 : 2: 3. Calculate the sacrificing ratio. {1}

Q. (11) Rohit and Mohit are partners is a firm, sharing profits in 5 : 3 ratio. They admitted Vijay for 1/7th
share in profit and the future profits will be shared by the partners in 4 : 2 : 1 ratio. Computer
sacrifice ratio of Rohit and mohit. {1}

Q. (12) Amar and Bahadur are partners in a firm, sharing profits in 3 : 2. They admitted Marry in
partnership for 1/5th share, the new profit sharing ratio between Amar and Bahadur will be 2 : 1.
Find out ratio of sacrifice of old partners. {1}

Q. (13) Lucky and Zeny were partners in a firm, sharing profits in 4 : 3 ratio. They amitted Allen as a new
partner for 20% of share in the profits. Allen acquired his share of profits in the ratio of 1 : 2 from
Lucky and Zeny. Calculate the new profit sharing ratio of Lucky, Zeny and Allen. {1}

Q. (14) Suresh and Ramesh were partners in a firm, sharing profits in 5 : 3 ratio. On 1st April, 2013, they
admitted Deepak as a new partner for 1/4th share. On 31st July, 2013, Karan was admitted as a
new partner for 1/6th share which he acquired equally from Suresh, Ramesh and Deepak.
Calculate the new profit sharing ratio of Suresh, Ramesh, Deepak and Karan. {2}
Q. (15) Ram purchased Mohan’s business on 1st April, 2016. The profits disclosed by Mohan’s business
for the last three years were as follows {2}
2013 - 2014 = Rs. 1,60,000 (After charging speculation loss of Rs. 40,000
2014 - 2015 = Rs. 2,00,000 (Including an abnormal gain of Rs. 20,000)
2015 - 2016 = Rs. 1,80,000 (Including interest on government securities of Rs. 20,000)
Calculate average profit for valuation of goodwill.

Q. (16) The profits of a firm for the year ended 31st March for the last five years were {2}
Year 2011 2012 2013 2014 2015
Profit (Rs.) 40,000 48,000 60,000 50,000 36,000
Calculate value of goodwill on the basic of three years purchase of the weighted average profit.

Q. (17) A firm earn net profits during the last three years as {2}
Year I II III
Profit(Rs.) 18,000 20,000 22,000
The capital investment of the firm is Rs. 60,000. A fair return on the capital having regard to the
risk involved is 10%. Calculate value of goodwill on the basic of three years purchase of the
average super profit for the last three years.

Q. (18) On 1st April, 2015, an existing firm had assets of Rs. 75,000 including cash of Rs. 5,000. The
partners capital account showed a balance of Rs. 60,000 and reserve constituted the rest. If the
normal rate of return is 10% and the goodwill of the firm is valued at Rs. 24,000 at 4 years’
purchase of super profit. Find the average profit of the firm. {2}

Q. (19) From the figures given below, calculate goodwill according to the capitalizations of average profit
method : {2}
(i) Actual Average Profit = Rs. 72,000
(ii) Normal Rate of Return = 10%
(iii) Assets = Rs. 9,70,000
(iv) Liabilities = Rs. 4,00,000

Q. (20) A firm earn profit of Rs. 30,000 per year. 10% normal profit is expected in same type of business.
Firm had total assets of Rs. 3,40,000 (including Rs. 1,000 cash). Other liabilities were Rs. 1,20,000
Calculate value of goodwill on the basic of capitalised value of super profit. {2}

Q. (21) A and B are partners with capital of Rs. 1,60,000 and Rs. 1,20,000 respectively. They admit C as a
Partner on 1st April, 2016 for 1/4th share in the profit of the firm. C brings in Rs. 1,60,000 as his
share of capital. Find out the amount of goodwill. {2}

Q. (22) A and B are partners sharing profit in the ratio of 3 : 2. C was admitted for 1/6th share in the firm.
C brought Rs. 50,000 as capital and Rs. 10,000 as goodwill in case. Pass the necessary journal
entries when {2}
(i) Goodwill is retained by old partners in the firm.
(ii) Goodwill is withdrawn by old partners in the firm.

Q. (23) Ram and Shyam are partners in a fir sharing profits in the ratio of 3 : 2. Mohan was admitted for
1/4th share in future profit of the firm. Mohan acquires his share 1/4, 11/60 from Ram and 4/60
from Shyam. Mohan paid Rs. 1,00,000 in case as his capital but did not bring any amount for
goodwill. Goodwill was value for Rs. 96,000 at the admission of Mohan. Pass journal entries
and calculate new profit sharing ratio of the partners. {2}

Q. (24) Abhay & Beena are partners in a firm. They admit Chetan as a partner with 1/4th share in the
profits of the firm. Chetan brings Rs. 2,00,000 as his share of capital. The value of total assets
of the firm is Rs. 5,40,000 and outside liabilities are value at Rs. 1,00,000 on that date. Give the
necessary entries. {2}