12 :- Sunil, Shahid and David are partners sharing profits and losses in the ratio of 4:3:2. Shahid retires and the goodwill is valued at Rs 72,000. Calculate Shahid’s share of goodwill and pass the journal entry for goodwill. Sunil and David decided to share profits and losses in the ratio of 5:3.
13 :- P, Q, R and S were partners in a firm sharing profits in the ratio of 5:3:1:1. On 1st january 2024, S retired from the firm. On S’s retirement, goodwill of the firm was valued at Rs 4,20,000. New profit sharing ratio among P, Q and R will be 4:3:3.
Showing your working notes clearly, pass necessary journal entry for the treatment of goodwill in the books of the firm on S’s retirement.
14 :- Aparna, Manisha and Sonia are partners sharing profits in the ratio of 3:2:1. Manisha retired and goodwill of the firm is valued at Rs 1,80,000. Aparna and Sonia decided to share future profits in the ratio of 3:2. Pass necessary journal entries.
15 :- A, B and C are partners sharing profits in the ratio of 3:2:1. B retired and the new profit-sharing ratio between A and C was 2:1. On B’s retirement, the goodwill of the firm was valued at Rs 90,000. Pass necessary journal entry for the treatment of goodwill on B’s retirement.
16 :- Aman, Bimal and Deepak are partners sharing profits in the ratio of 2:3:5. The goodwill of the firm has been valued at Rs 37500. Aman retired. Bimal and Deepak decided to share profits equally in future. Calculate gain/sacrifice of Bimal and Deepak on Aman’s retirement and also pass necessary journal entry for the treatment of goodwill.
17 :- M, N and O who are partners in a firm sharing profits in the ratio of 3:2:1. Goodwill has been valued at Rs 60,000. On N’s retirement, M and O agree to share profits equally.
Pass the necessary journal entry for treatment of N’s share of goodwill.
18 :- A, B, C and D are partners sharing profits in the ratio of 3:3:2:2 respectively. D retires and A, B and C decide to share future profits in the ratio of 3:2:1. Goodwill of the firm is valued at Rs 6,00,000. Goodwill existed in the books at Rs 4,50,000. Profits for the first year after D’s retirement was Rs 12,00,000. Give necessary journal entries to record Goodwill and to distribute the profits. Show your calculations.