Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Parul and Rahul are partners in a firm. They admit Param into partnership for equal share. It was agreed that goodwill will be valued at three year’s purchase of average profit of last five years. profits for the last five years were: 3.22K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Sumit purchased Amit’s business on 1st April, 2023. Goodwill was decided to be valued at two year’s purchase of average normal profit of last four years. The profits for the past four years were: 3.36K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Naman and Amar are partners sharing profits in the ratio of 3 : 2. They decided to admit Raman as a partner from 1st April, 2023 on the following terms: 2.08K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Abhay, Babu and Charu are partners sharing profits and losses equally. They agree to admit Daman for equal share of profit 1.69K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Divya purchased Jyoti’s business on 1st April, 2023. Profits shown by Jyoti’s business for the last three financial years were: 2020 – 21: ₹ 1,00,000 (including profit on sale of machine (abnormal gain) of ₹ 12,500 1.74K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans The Partnership Deed of Aman, Bharat and Chetan has a clause that any partner may retire from the firm on the following terms by giving six months’ notice in writing. The retiring partner shall be paid 4.34K viewsAnurag Pathak Changed status to publish May 3, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Veena and Soma are partners in a firm. They admit Sara on 1st April, 2022 for 1/4th share in the profits of the firm. On an average, the profits earned by Veena and Soma are ₹ 21,000 3.57K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Admission of Partner[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Calculate the value of goodwill of a firm on the basis of three year’s purchase of average profit of the preceding five years which were as follows: 945 viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Suraj and Chetan are partners in a firm sharing profits and losses equally. They decide to take Deep into partnership from 1st April, 2023 for 1/5th share in the future profits 1.71K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Calculate the value Goodwill on the basis of three year’s purchase of four year’s average profit. Profits of the firm for last four year’s ending on 31st March, were: 2020 – ₹ 12,000; 2021 – ₹ 18,000; 2022 – ₹ 16,000; 2023 – ₹14,000. Calculate the value of Goodwill. 796 viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Anil and Sunil are partners sharing profits and losses in the ratio of 3 : 1. On 1st April 2023, their capitals were: Anil ₹ 1,50,000 and Sunil ₹ 90,000 888 viewsAnurag Pathak Changed status to publish April 27, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Nihar and Ashish started business on 1st April, 2023 with fixed capitals of ₹ 5,00,000 each. On 1st October, 2023, they decided that total fixed capital of the firm ₹ 15,00,000 should be in their profit sharing ratio of 4 : 1 905 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Ajay, Bijay, and Chandan are partners in a firm with capitals of ₹ 1,50,000; ₹ 1,20,000, and ₹ 90,000 respectively. Their Partnership Deed provides as follows: 3.07K viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Tara and Mira are in partnership sharing profits in the ratio of 3 : 2. According to the Partnership Deed, Tara is to get salary of ₹ 10,000 per month 744 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Amrit and Kamal started business on 1st April, 2023 with capitals of ₹ 10,00,000 and ₹ 5,00,000 respectively. Kamal withdrew ₹ 12,000 in the middle of each month 653 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Firoz and Asim started business on 1st June, 2023 with capitals of ₹ 5,00,000 and ₹ 2,50,000 respectively. Firoz withdrew ₹ 12,000 at the end of each month 800 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Pawan and Param started business on 1st July, 2023 with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively. Pawan withdrew ₹ 18,000 per quarter at the end 621 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Raman and Karan are in partnership from 1st April, 2023 with capitals of ₹ 10,00,000 each. Raman withdrew equal amount at the middle of every month starting 657 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Raj and Kiran are in partnership from 1st June, 2023 with capitals of ₹ 6,00,000 and ₹ 4,00,000 respectively. Raj withdrew same amount in the beginning of 810 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Ramesh and Pradeep are in partnership from 1st July, 2023 with capitals, Ramesh ₹ 3,00,000 and Pradeep ₹ 2,00,000 451 viewsAnurag Pathak Changed status to publish April 24, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Amar and Nimrat are partners in a firm, Amar withdraws ₹ 5,000 in the beginning of the month starting from 1st April, 2023 for 6 months 827 viewsAnurag Pathak Changed status to publish April 23, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Ranjan and Pankaj are partners having balances in current accounts as on 1st April, 2023 as Ranjan ₹ 3,00,000 and Pankaj as ₹ 2,00,000 (Debit) 698 viewsAnurag Pathak Changed status to publish April 23, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Amrik and Avtar are partners having capitals as on 1st April, 2023 as Amrik – ₹ 2,40,000 and Avtar as ₹ 1,20,000 (Debit). On 1st September 788 viewsAnurag Pathak Changed status to publish April 23, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans From the following Balance Sheet of Sujata and Swati, Calculate interest on capital @ 5% p.a. for the year ended 31st March 2023: 2.24K viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Arun and Barun started business on 1st April, 2023. From the following Balance Sheet of Arun and Barun and Additional information, Calculate interest on capital @ 6% p.a 549 viewsAnurag Pathak Changed status to publish April 22, 2024[ISC] Fundamentals of Partnership « Previous 1 2 … 25 26 27 28 29 … 161 162 Next » Question and answer is powered by anspress.net
