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Category Goodwill

Goodwill 88 Questions

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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

1.27K viewsAnurag Pathak Answered question May 6, 2024Goodwill

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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

738 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

804 viewsAnurag Pathak Changed status to publish May 6, 2024Goodwill

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Abhay, Babu, and Charu are partners sharing profits and losses equally. They agree to admit Daman for an equal share

6.53K viewsAnurag Pathak Changed status to publish April 1, 2024[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

The Capital of the firm of Anuj and Benu is ₹ 10,00,000 and the market rate of interest is 15%

7.73K viewsAnurag Pathak Changed status to publish March 30, 2024[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Atul and Bipul had a firm in which they had invested ₹ 50,000. On average, the profits were ₹ 16,000

6.39K viewsAnurag Pathak Changed status to publish March 27, 2024[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Total of Assets side of the Balance Sheet – ₹ 25,00,000, Debit Balances in Current Account of Naresh and Vikesh – ₹ 75,000 and ₹ 25,000 respectively; Bank Loan ₹ 8,00,000; Goodwill ₹ 1,00,000; Trade Investments – ₹ 25,000; Profit and Loss Accounts (Debit) – ₹ 15,000.

4.31K viewsAnurag Pathak Changed status to publish March 17, 2024Accountancy Class 12th Goodwill MCQs (Goodwill)

0 Votes 1 Ans

Profits of a firm for the year ended 31st March for the last five years were:

4.00K viewsAnurag Pathak Changed status to publish May 18, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Enumerate two main steps involved in valuing Goodwill according to Super Profit Method.

999 viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Give the formula for Calculation of Goodwill by Capitalisation of Super Profit Method

957 viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Give the formula for calculation of Goodwill by ‘Capitalisation of Average Profit.’

880 viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

What is meant by Capitalisation of Super Profit?

1.02K viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

What is meant by Capitalisation of Average Profit?

830 viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

What are ‘Super Profits’?

888 viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

What is meant by Average Profit?

925 viewsAnurag Pathak Changed status to publish April 20, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

What is meant by Self-generated Goodwill?

959 viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

What is meant by purchased Goodwill?

868 viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Give any two features of Goodwill.

845 viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

State any three circumstances other than (i) admission of a new partner, (ii) retirement of a partner and (iii) death of a partner, when need for valuation of goodwill of a firm may arise.

1.24K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

921 viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

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Ajit and Baljit were sharing profits in the ratio of 3 : 2. They admit Chaman into the partnership for 1/6th share of future profits.

3.07K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Average Profit ₹ 4,40,000, Capital Employed ₹ 8,00,000; Normal Rate of Return 15%. Management Cost during this period is estimated to be ₹ 2,00,000. Calculate the value of goodwill on the basis of two years’ purchase of super profit.

3.05K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

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A firm earns a profit of ₹ 2,50,000. The Normal Rate of Return in a similar type of business is 10%.

2.52K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

Find the Capitalised value of the business from the following information:

2.51K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill MCQs (Goodwill)

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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.

2.97K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Assertion Reason (Goodwill)Goodwill

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