X purchased the business of Y from 1st April, 2023. For this purpose goodwill is to be valued at 100% of the average annual profits of the last four years. The profits shown on Y’s business for the last four years were:
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The goodwill of a firm is valued at 4 year’s purchase of average profits of last five years. The profits of the last five years were:
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Mahesh, Naresh and Om were partners sharing profits in the ratio of 2 : 3 : 4. With effect from 1st April, 2023 they agreed to share profits in the ratio of 1 : 2 : 3. Calculate each partner’s gain or sacrifice due to change in ratio
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A, B and C were in partnership sharing profits in the ratio of 4 : 3 : 1. The partners agreed to share future profits in the ratio of 5 : 4 : 3
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A and B were in partnership sharing profits equally. With effect from 1st April, 2023 they agreed to share profits in the ratio of 4 : 3
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X and Y were partners in a firm sharing profits in the ratio of 5 : 3. With effect from 1st April, 2023 they agreed to share profits equally
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Raman, Shiv and Mukesh were in partnership sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 was as follows:
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Pawan and Arun are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decided to dissolve their firm on 31st March, 2023, when their Balance Sheet was as follows
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Ankur Aditya and Pankaj were partners sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2022, their Balance Sheet was as follows:
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Nimrat and Deep are partners having capitals as on 1st April, 2023 as Nimrat – ₹ 4,80,000 and Deep as ₹ 1,00,000 (Debit)
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