X and Y are partners in a firm sharing profits and losses in 4 : 3 ratio. They admitted Z for 1/8 share. Z brought Rs. 20,000 for his capital and Rs. 7,000 for his 1/8 share of goodwill
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Arti and Bharti are partners in a firm sharing profits in 3 : 2 ratio. They admitted Sarthi for 1/4 share in the profits of the firm. Sarthi brings Rs. 50,000 for his capital and Rs. 10,000 for his 1/4 share of goodwill
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A and B are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decide to admit C into partnership with 1/4 share in profits. C will bring in Rs. 30,000 for capital and the requisite amount of goodwill premium in cash
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Verma and Sharma are partners in a firm sharing profits and losses in the ratio of 5 : 3. They admitted Ghosh as a new partner for 1/5 share of profits. Ghosh is to bring in rs. 20,000 as capital and Rs. 4,000 as his share of goodwill premium
Solution:- Case (d) When goodwill is paid privately, no entry is passed in the books of the accounts.
A business has earned average profits of Rs. 1,00,000 during the last few years. Find out the value of goodwill by capitalisation method, given that the assets of the business are Rs. 10,00,000 and its external liabilities are Rs. 1,80,000
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Rajan and Rajani are partners in a firm. Their capitals were Rajan Rs. 3,00,000; Rajani Rs. 2,00,000. During the year 2015 the firm earned a profit of Rs. 1,50,000
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The books of Ram and Bharat showed that the firm’s capital on 31. 12. 2016 was Rs. 5,00,000 and the profits for the last 5 years : 2015 Rs. 40,000; 2014 Rs. 50,000; 2013 Rs. 55,000; 2012 Rs. 70,000 and 2011 Rs. 85,000
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Firm’s Capital in a business is Rs. 2,00,000. The normal rate of return on firm’s capital is 15%. During the year 2015 the firm earned a profit of Rs. 48,000
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Compute the value of goodwill on the basis of four years purchase of the average profits based on the last five years? The profits for the last five years were as follows
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Rao and Swami are partners in a firm sharing profits and losses in 3 : 2 ratio. They admit Ravi as a new partner for 1/8 share in the profits. The new profit sharing ratio between Rao and Swami is 4 : 3
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