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Answer

Amrit and Amar were partners sharing profits in the ratio of 3 : 2. They admitted Amit and Anita as new partners. Amrit surrendered 1/3rd of his share in favour of Amit and Amar surrendered 1/4th of his share in favour of Anita. Calculate new profit sharing ratio of Amrit, Amar, Amit and Anita.

Solution:-

Anurag Pathak
June 26, 2023

Lalit and Mukesh sharing profits in the ratio of 7 : 3 admit Ashok for 3/7th share in the firm which he gets 2/7th from Lalit and 1/7th from Mukesh. Calculate new profit sharing ratio.

Solution:-

Anurag Pathak
June 26, 2023

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

Solution:-

Anurag Pathak
June 26, 2023

Vimal and Nirmal are partners sharing profits in the ratio of 3 : 2. Anita is admitted for 1/5th share in the profits. Calculate new profit sharing ratio of the partners.

Solution:-

Anurag Pathak
June 26, 2023

From the following information, calculate the value of goodwill of M/s Shiv and Shahid:

Solution:-

Anurag Pathak
June 26, 2023

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

Solution:-

Anurag Pathak
June 26, 2023

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.

Solution:-

Anurag Pathak
June 26, 2023

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?

Solution:-

Anurag Pathak
June 26, 2023

Ravi and Kant are partners in a business with balances in their capital and Current Accounts as on 31st March, 2023 were:

Solution:-

Anurag Pathak
June 26, 2023

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.

Solution:-

Anurag Pathak
June 25, 2023