1. Z is admitted in a firm for a 1/4 share in the profit for which he brings 7 30,000 for goodwill. It will be taken away by the old partners X and Y in :

2. On the admission of a new partner, the decrease in the value of assets is debited to:

3. When the new partner pays for goodwill in cash, the amount should be debited in the firm’s book to:

4. The balance of Revaluation Account or Profit & Loss Adjustment Account is transferred to Old Partners’ Capital Accounts in their :

5. X and Y share profits in the ratio of 3 : 2 Z was admitted as a partner who gets 1/5 share. Z acquires 3/20 from X and 1/20 from Y. The new profit sharing ratio will be :

6. The opening balance of Partner’s Capital Account is credited with:

7. At the time of admission of a new partner, Undistributed Profits appearing in the Balance Sheet of the old firm is transferred to the Capital Account of:

8. Z is admitted in a firm for al/4 share in the profit for which he brings 7 30,000 for goodwill. It will be taken away by the old partners X and Y in :

9. General Reserval at the time of admission of a new partner is transferred to :

10. Change in profit-sharing ratio of existing partners results in: