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Category Goodwill

Goodwill 93 Questions

2 Sub Categories

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On 1st April, 2023, a partnership firm had assets of ₹ 2,00,000 including cash of ₹ 6,000 and bank balance of ₹ 14,000

138 viewsAnurag Pathak Answered question 6 days agoGoodwill

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X, Y and Z are partners sharing profits equally. They decided that in future Z will get 1/5th share in profits. On the day of change, firm’s goodwill is valued at ₹ 30,000

132 viewsAnurag Pathak Answered question April 8, 2025Goodwill

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Rohit and Hardik are partners sharing profits and losses equally. They decided to admit Surya as a partner for 1/3 share. For this purpose, the goodwill of the firm is to be valued

153 viewsAnurag Pathak Answered question April 8, 2025Goodwill

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Amit and Kartik are partners sharing profits and losses equally. They decided to admit Saurabh for an equal share in the profits. For this purpose, the goodwill of the firm was to be valued at four years’ purchase of super profits

129 viewsAnurag Pathak Changed status to publish April 8, 2025Goodwill

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Sakshi and Megha were partners sharing profits and losses in the ratio of 3 : 1. Capital Employed as on 31st March, 2024 was ₹ 14,00,000

132 viewsAnurag Pathak Answered question April 8, 2025Goodwill

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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

2.14K 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

1.29K viewsAnurag Pathak Answered question May 6, 2024Goodwill

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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

1.46K 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

8.08K viewsAnurag Pathak Changed status to publish April 1, 2024[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

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

9.66K 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

8.05K 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.

5.31K 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:

5.03K 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.

1.47K 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

1.43K 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.’

1.34K 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?

1.47K 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?

1.31K 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’?

1.28K 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?

1.32K 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?

1.41K 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?

1.28K 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.

1.29K 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.

1.67K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

0 Votes 1 Ans

1.35K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Goodwill

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