Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans Calculate interest on A’s drawings: (i) If he has withdrawn ₹ 60,000 on 1st October, 2022 and rate of interest on drawings is 8% per annum 1.01K viewsAnurag Pathak Answered question May 24, 2024 0 Votes 1 Ans X and Y are partners in a firm. They do not have any partnership deed. What should be done in the following cases 1.08K viewsAnurag Pathak Answered question May 23, 2024 0 Votes 1 Ans Alfa Ltd. was formed with a Capital of ₹ 70,00,000 divided into 70,000 equity shares of ₹ 100 each. The company allotted 1,000 equity shares of ₹ 100 each as fully paid to the subscribers 1.06K viewsAnurag Pathak Answered question May 20, 2024[ISC] Accounting for Share Capital 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 2.46K viewsAnurag Pathak Answered question May 6, 2024Goodwill 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 1.38K viewsAnurag Pathak Answered question May 6, 2024Goodwill 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 1.62K viewsAnurag Pathak Changed status to publish May 6, 2024Goodwill 0 Votes 1 Ans From the information given below, find the average profits of the partnership firm of Sudhir and Sana: 1.30K viewsAnurag Pathak Answered question May 6, 2024[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 1.60K viewsAnurag Pathak Changed status to publish April 27, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans From the following information, calculate the value of goodwill of M/s Shiv and Shahid: 3.09K viewsAnurag Pathak Changed status to publish May 4, 2024[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 2.38K viewsAnurag Pathak Changed status to publish May 4, 2024[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 2.24K viewsAnurag Pathak Changed status to publish May 4, 2024[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. 1.72K viewsAnurag Pathak Changed status to publish May 4, 2024[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? 1.90K viewsAnurag Pathak Changed status to publish May 4, 2024[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: 2.83K viewsAnurag Pathak Changed status to publish May 4, 2024[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. 1.45K viewsAnurag Pathak Changed status to publish May 4, 2024[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. 3.28K viewsAnurag Pathak Changed status to publish May 4, 2024[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 1.42K viewsAnurag Pathak Changed status to publish May 4, 2024[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: 1.53K viewsAnurag Pathak Changed status to publish May 4, 2024[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. 1.52K viewsAnurag Pathak Changed status to publish May 4, 2024[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. 1.74K viewsAnurag Pathak Changed status to publish May 3, 2024[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 2.19K viewsAnurag Pathak Changed status to publish May 3, 2024[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. 4.33K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A business has earned average profit of ₹ 2,50,000 during the last few years and the normal rate of return in similar business is 10%. If goodwill of the firm is valued at ₹ 3,00,000 at 3 year’s purchase of Super profit, find Capital Employed by the firm. 2.56K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Varuna and Karuna are partners for equal shares. They admit Lata into partnership for 1/4th share. It was agreed to value goodwill of the firm at 4 year’s purchase of super profit 2.46K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ideal Marketing earned an average profit of ₹ 4,00,000 during the last five years. Normal rate of return on capital employed is 10%. Balance Sheet of the firm as at 31st March, 2023 was as follows: 2.41K viewsAnurag Pathak Changed status to publish May 3, 2024[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th « Previous 1 2 … 36 37 38 39 40 … 173 174 Next » Question and answer is powered by anspress.net
