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If it is agreed that the capital of all the partners should be proportionate to the new profit sharing ratio, how will you work out the new capital of each partner? Give examples and state how necessary adjustments will be made.

Class 12 Accountancy accounts
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Explain various methods of valuation of goodwill.

Class 12 Accountancy accounts
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What is goodwill? What factors affect goodwill?

Class 12 Accountancy accounts
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Do you advise that assets and liabilities must be revalued at the time of admission of a partner? If so, why? Also, describe how is this treated in the book of account?

Class 12 Accountancy accounts
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Why there is a need for the revaluation of assets and liabilities on the admission of a partner?

Class 12 Accountancy accounts
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If some goodwill already exists in the books and the new partner brings in his share of goodwill in cash, how will you deal with existing amount of goodwill?

Class 12 Accountancy accounts
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On what occasions sacrificing ratio is used?

Class 12 Accountancy accounts
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What is sacrificing ratio? Why is it calculated?

Class 12 Accountancy accounts
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Why it is necessary to ascertain a new profit sharing ratio even for old partners when a new partner is admitted?

Class 12 Accountancy accounts
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Identify various matters that need adjustments at the time of admission of a new partner.

Class 12 Accountancy accounts
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How will you deal with a change in profit sharing ratio among existing partners? Take imaginary figures to illustrate your answer?

Accountancy accounts
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Illustrate how interest on drawings will be calculated under various situations.

Class 12 Accountancy accounts
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