Goodwill is nothing more than probability that the old customer will resort to the old place. This definition of goodwill was given by:

Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be :

When there is no Goodwill Account in the books and goodwill is raised,…………….account will be debited :

The amount of goodwill is paid by new partner :

At the time of admission of a new partners general reserve appearning in the old Balance Sheet is transferred to:

Profit or Loss on Revaluation is borne by:

Share of goodwill brought by new partner in case is shared by old partners in :

A, Band Care three partners sharing profits and losses in the ratio of 4:3:2. D is admitted for 1/10 share, the new ratio will be :

A and B are partners in a firm sharing profits in the ratio of 3:2. They admit C as a new partner for 1/3 rd share in the profits of the firm. The new profit sharing ratio of A, B and C would be :

X and Y are partners sharing profits in the ratio of 1:1. They admit Z for 1/5 th share who contributed ₹25,000 for his share of goodwill. The total value of goodwill of the firm will be :