Commerce School

Student Community

YOUTUBE CHANNELSubscribe

Telegram Channel

Commerce School

Student Community

Telegram Channel

YOUTUBE CHANNELSubscribe

Category Goodwill

Goodwill 88 Questions

2 Sub Categories

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

1.73K 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

1.05K 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

1.15K viewsAnurag Pathak Changed status to publish May 6, 2024Goodwill

0 Votes 1 Ans

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

7.50K 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%

8.92K 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

7.46K 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.

4.83K 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:

4.59K 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.

1.26K 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

1.22K 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.’

1.12K 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?

1.25K 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?

1.10K 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’?

1.10K 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?

1.14K 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?

1.20K 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?

1.10K 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.

1.07K 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.

1.46K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

1.16K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

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.

3.48K 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.

3.45K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

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

2.88K 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:

2.80K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill MCQs (Goodwill)

0 Votes 1 Ans

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.

3.30K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Assertion Reason (Goodwill)Goodwill

1 2 3 4 Next »

Question and answer is powered by anspress.net