Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Assertion (A): Goodwill is the value of the reputation of a firm in respect of the profits expected in the future over and above the super profits. 5.32K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason (Goodwill)Goodwill 0 Votes 1 Ans P, Q, and R are partners sharing profits and losses in the ratio of 2 : 2 : 1. They admit 5 for 1/5th share. For the purpose of admission of 5, the goodwill of the firm is to be valued at 3 years’ purchase of the average of 5 years’ profit or loss. The profits (Loss) are: 5.52K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Under the average profit method of goodwill valuation, the value of goodwill is determined by 2.70K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Under the Capitalisation of Super Profit basis of goodwill valuation, goodwill is calculated by 2.72K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Which of the following factors affects the value of goodwill? 3.16K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Which of the following is not true in relation to goodwill? 3.07K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Goodwill is not accounted in the books if 3.10K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Goodwill is an intangible asset and is recognised as an asset only when consideration is paid for it. 3.62K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Goodwill is an intangible asset because of which an enterprise is likely to earn higher profits without putting in extra efforts. 4.85K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Goodwill is valued at the time of the firm’s reconstitution because gaining partners have to compensate the sacrificing partners for gaining profit share. 3.84K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason (Goodwill)Goodwill 0 Votes 1 Ans Assertion (A): Self-generated Goodwill is recognised in the books of account on reconstitution of a firm because the amount is exchanged between the gaining partner or partners and sacrificing partner or partners. 4.52K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason (Goodwill)Goodwill 0 Votes 1 Ans From the following information, Calculate the value of goodwill of the firm: 6.58K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A business has earned an average profit of ₹ 8,00,000 during the last few years and the normal rate of return in a similar business is 10%. Find the value of goodwill by: 4.71K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The average profit of GS & Co. is ₹ 50,000 per year. The average Capital Employed in the business is ₹ 3,00,000. If the normal rate of return on capital employed is 10%. Calculate the goodwill of the firm by: 5.03K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Rajan and Rajani are partners in a firm. Their Capitals were Rajan ₹ 3,00,000; Rajani ₹ 2,00,000. During the year ended 31st March 2023, the firm earned a profit of ₹ 1,50,000. Calculate the value of goodwill of the firm by capitalisation of super profit assuming that the normal rate of return is 20%. 5.55K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Raja Brothers earn an average profit of ₹ 30,000 with a capital of ₹ 2,00,000. The normal rate of return in the business is 10%. Using Capitalisation of super profit method. Workout the value of the goodwill of the firm. 9.05K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The average profit of a firm during the last few years is ₹ 1,50,000. In similar businesses, the normal rate of return is 10% of the capital employed. Calculate the value of goodwill by capitalisation of the super profit method if the super profits of the firm are ₹ 50,000. 9.41K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans On 1st April 2018, the firm had assets of ₹ 1,00,000 excluding stock of ₹ 20,000. The current liabilities were ₹ 10,000 and the balance constituted Partner’s Capital Accounts. 8.16K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A firm earns a profit of ₹ 5,00,000. The normal Rate of Return in a similar type of business is 10%. The value of total assets (excluding goodwill) and total outsider’s liabilities as on the date of goodwill are ₹ 55,00,000 and ₹ 14,00,000 respectively. 6.08K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A business has earned an average profit of ₹ 4,00,000 during the last few years and the normal rate of return in a similar business is 10%. Find the value of goodwill by: 6.64K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans From the following particulars, calculate the value of goodwill of a firm by the Capitalisation of Average Profit Method. 6.42K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Puneet and Tarun are in the restaurant business having credit balances in their fixed capital accounts as ₹ 2,50,000 each. They have credit balances in their Current Accounts of ₹ 30,000 and ₹ 20,000 respectively. The firm does not have any liability. 8.91K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A and B were partners in a firm with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively, The normal rate of return was 20% and the capitalised value of average profits was ₹ 7,50,000. Calculate the goodwill of the firm by capitalisation of the average profit method. 9.29K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A firm earned an average profit of ₹ 3,00,000 during the last few years. The normal rate of return of the industry is 15%. The assets of the business were ₹ 17,00,000 and its liabilities were ₹ 2,00,000. Calculate the goodwill of the firm by Capitalisation of average profit. 6.71K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans From the following information, Calculate the value of the goodwill of the firm by applying Capitalisation Method. Total Capital of the firm ₹ 16,00,000. Normal Rate of Return 10% Profit for the year ₹ 2,00,000 5.12K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill « Previous 1 2 … 167 168 169 170 171 … 177 178 Next » Question and answer is powered by anspress.net
