Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A business has earned average profit of ₹ 1,20,000 during the last four years and the normal rate of return of similar business is 15%. If goodwill of the firm is valued at ₹ 1,35,000 at 3 year’s purchase of average super profit 3 viewsAnurag Pathak Answered question 49 seconds agoGoodwill 0 Votes 1 Ans A business earned an average profit of ₹ 1,80,000 during the last few years. Average capital employed by the firm is ₹ 12,50,000. If goodwill of the firm is valued at ₹ 1,60,000 7 viewsAnurag Pathak Answered question 5 mins agoGoodwill 0 Votes 1 Ans A and B were partners in a firm sharing profits equally. Their capitals were: A – ₹ 1,20,000 and B – ₹ 80,000. The annual rate of interest is 20%. Profits of the firm for the last three years were ₹ 34,000; ₹ 38,000 and ₹ 30,000 12 viewsAnurag Pathak Changed status to publish 9 mins agoGoodwill 0 Votes 1 Ans From the information given below, find the average profits of the partnership firm of Sudhir and Sana: 3 viewsAnurag Pathak Answered question 11 mins ago[ISC] Goodwill 0 Votes 2 Ans Mahi, Virat and Ishant are partners in Sports goods business sharing profits and losses in the ratio of 2 : 2 : 1. Ishant is guaranteed profit of ₹ 5,00,000 per annum by Mahi and Virat 109 viewsAnurag Pathak Changed status to publish April 27, 2024[ISC] Fundamentals of Partnership 0 Votes 0 Ans From the information given below, find the average profits of the partnership firm of Sudhir and Sana 16 viewsAnurag Pathak Changed status to publish 24 hours ago[ISC] Goodwill 0 Votes 1 Ans From the following information, calculate the value of goodwill of M/s Shiv and Shahid: 1.22K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A firm earns profit of ₹ 2,00,000. Normal rate of return in the similar business is 10%. Value of total assets (excluding goodwill) and total outside liabilities as on the due of valuation of goodwill are ₹ 23,00,000 and ₹ 6,60,000 respectively 968 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ajeet and Baljeet are partners in a firm. Their capitals are ₹ 9,00,000 and ₹ 6,00,000 respectively. During the year ended 31st March, 2023 the firm earned a profit of ₹ 4,50,000 916 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Average profit of GS & Co. is ₹ 50,000 per year. Average capital employed in the business is ₹ 3,00,000. If the normal rate of return on capital employed is 10%. Calculate goodwill of the firm by: i) Super Profit Method at three year’s purchase, and ii) Capitalisation of Super Profit Method. 626 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Average profit of the firm is ₹ 2,00,000. Total assets of the firm are ₹ 15,00,000 whereas Partner’s Capital is ₹ 12,00,000. If normal rate of return in a similar business is 10% of the capital employed, what is the value of goodwill by capitalisation of Super Profit? 704 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ravi and Kant are partners in a business with balances in their capital and Current Accounts as on 31st March, 2023 were: 1.23K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans From the following particulars, calculate value of goodwill of a firm by Capitalisation of Average Profit Method: i) Profits of last five consecutive years ending 31st March, are: 2023 – ₹ 54,000; 2022 – ₹ 42,000; 2021 – ₹ 39,000; 2020 – ₹ 67,000 and 2019 – ₹ 59,000. ii) Capitalisation rate 20% iii) Net Assets of the firm ₹ 2,00,000. 559 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A firm earns ₹ 3,00,000 as its annual profit, the rate of return being 12%. Assets and liabilities of the firm amounted to ₹ 36,00,000 and ₹ 12,00,000 respectively. Calculate value of goodwill by Capitalisation Method. 1.30K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans From the following information, calculate value of goodwill of the firm by Capitalisation Method: Total Capital of the firm ₹ 16,00,000. Normal Rate of Return 10% Profit for the year ₹ 2,00,000 467 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ayub and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April, 2023. They agreed to value goodwill at 3 years purchase by Super Profit Method for which they decided to average profit of last 5 years. The profits for the last 5 years were: 517 viewsAnurag Pathak Changed status to publish 3 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans The average profit earned by a firm is ₹ 7,50,000 which includes overvaluation of stock of ₹ 30,000 on an average basis. The capital invested in the business is ₹ 42,00,000 and the normal rate of return is 15%. Calculate goodwill of the firm on the basis of 3 times the super profit. 546 viewsAnurag Pathak Changed status to publish 3 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Average profit earned by a firm is ₹ 1,00,000 which includes undervaluation of stock of ₹ 40,000 on an average basis. The capital invested in the business is ₹ 6,30,000 and the normal rate of return is 5%. Calculate goodwill of the firm on the basis of 5 times the super profit. 574 viewsAnurag Pathak Changed status to publish 3 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans On 1st April, 2023, a firm had assets of ₹ 7,50,000 including cash of ₹ 50,000. Its creditors amounted to ₹ 50,000 on that date. The firm had a reserve fund of ₹ 1,00,000 while Partner’s Capital Accounts showed a balance of ₹ 6,00,000 1.04K viewsAnurag Pathak Changed status to publish 3 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A business earned an average profit of ₹ 1,80,000 during the last few years. The average capital employed by the firm is ₹ 12,50,000. If goodwill of the firm is valued at ₹ 1,60,000 at 2 year’s purchase of Super Profit. Find Normal Rate of Return. 1.08K viewsAnurag Pathak Changed status to publish 3 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 1 2 … 172 173 Question and answer is powered by anspress.net
