Category [CBSE] TS Grewal Solutions [CBSE] TS Grewal Solutions 805 Questions 11 Sub Categories[CBSE] Admission of Partner(141)[CBSE] Comparative and Common Size Statement(27)[CBSE] Death of Partner(41)[CBSE] Dissolution of Partner(55)[CBSE] Fundamentals of Partnership Firm(234)[CBSE] Issue of Debenture(58) Ask question Search Order By: ActiveClear Filter 0 Votes 1 Ans What is meant by purchased Goodwill? 1.00K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Give any two features of Goodwill. 972 viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 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. 1.38K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans 1.05K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 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. 3.35K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 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. 3.31K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 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%. 2.76K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Find the Capitalised value of the business from the following information: 2.70K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (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. 3.17K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason (Goodwill)Goodwill 0 Votes 1 Ans P, Q, and R are partners sharing profits and losses in the ratio of 2 : 2 : 1. They admit 5 for 1/5th share. For the purpose of admission of 5, the goodwill of the firm is to be valued at 3 years’ purchase of the average of 5 years’ profit or loss. The profits (Loss) are: 3.31K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Under the average profit method of goodwill valuation, the value of goodwill is determined by 1.04K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Under the Capitalisation of Super Profit basis of goodwill valuation, goodwill is calculated by 988 viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Which of the following factors affects the value of goodwill? 1.29K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Which of the following is not true in relation to goodwill? 1.35K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Goodwill is not accounted in the books if 1.44K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Goodwill is an intangible asset and is recognised as an asset only when consideration is paid for it. 1.70K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Goodwill is an intangible asset because of which an enterprise is likely to earn higher profits without putting in extra efforts. 2.75K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Goodwill is valued at the time of the firm’s reconstitution because gaining partners have to compensate the sacrificing partners for gaining profit share. 1.87K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason (Goodwill)Goodwill 0 Votes 1 Ans Assertion (A): Self-generated Goodwill is recognised in the books of account on reconstitution of a firm because the amount is exchanged between the gaining partner or partners and sacrificing partner or partners. 2.37K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thAssertion Reason (Goodwill)Goodwill 0 Votes 1 Ans From the following information, Calculate the value of goodwill of the firm: 4.12K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A business has earned an average profit of ₹ 8,00,000 during the last few years and the normal rate of return in a similar business is 10%. Find the value of goodwill by: 2.36K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The average profit of GS & Co. is ₹ 50,000 per year. The average Capital Employed in the business is ₹ 3,00,000. If the normal rate of return on capital employed is 10%. Calculate the goodwill of the firm by: 3.14K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Rajan and Rajani are partners in a firm. Their Capitals were Rajan ₹ 3,00,000; Rajani ₹ 2,00,000. During the year ended 31st March 2023, the firm earned a profit of ₹ 1,50,000. Calculate the value of goodwill of the firm by capitalisation of super profit assuming that the normal rate of return is 20%. 3.57K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Raja Brothers earn an average profit of ₹ 30,000 with a capital of ₹ 2,00,000. The normal rate of return in the business is 10%. Using Capitalisation of super profit method. Workout the value of the goodwill of the firm. 5.98K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The average profit of a firm during the last few years is ₹ 1,50,000. In similar businesses, the normal rate of return is 10% of the capital employed. Calculate the value of goodwill by capitalisation of the super profit method if the super profits of the firm are ₹ 50,000. 5.94K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill « Previous 1 2 … 33 34 35 36 37 … 41 42 Next » Question and answer is powered by anspress.net
