37 :- A and B are partners in a firm with capital of Rs 60,000 and Rs 1,20,000 respectively. They decide to admit C into the partnership for 1/4th share in the future profits. C is to bring in a sum of Rs 70,000 as his capital. Calculate amount of goodwill.
38 :- Anil and Sunil are partners in a firm with fixed capitals of Rs 3,20,000 and Rs 2,40,000 respectively. They admitted Charu as a new partner for 1/4th share in the profits of the firm on 1st April, 2012. Charu brought Rs 3,20,000 as her share of capital.
Calculate value of goodwill and record necessary journal entries.
39 :- Vanshika and Shikha were partners in a firm with capitals of Rs 1,00,000 and Rs 80,000 respectively. They admitted Nisha on 1st April, 2022 as a new partner for 1/4th share in the future profits of the firm. Nisha brought Rs 90,000 as her capital. Nisha acquired her share equally from Vanshika and Shikha.
Calculate the value of goodwill of the firm and pass necessary Journal entries on Nisha’s admission, assuming that Nisha did not bring her share of goodwill premium in cash. Show the working clearly.
40 :- X and Y are partners with capitals of Rs 50,000 each. They admit Z as a partner for 1/4th share in the profits of the firm. Z brings in Rs 80,000 as his share of capital. Profit and Loss Account showed a credit balance of Rs 40,000 as on date of admission of Z.
Give necessary journal entries to record the goodwill.
41 :- Asin and Shreyas are partners in a firm. They admit Ajay as a new partner with 1/5th share in the profits of the firm. Ajay brings Rs 5,00,000 as his share of capital. The value of total assets of the firm was Rs 15,00,000 and outside liabilities were valued at Rs 5,00,000. on that date. Give necessary journal entry to record goodwill at the time of Ajay’s admission. Also show your workings.