Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 0 Ans sdjfkd kdjfkd kdjf d 7 viewsAnurag Pathak Changed status to publish 8 hours ago 0 Votes 0 Ans From the information given below, find the average profits of the partnership firm of Sudhir and Sana 8 viewsAnurag Pathak Changed status to publish 10 hours ago[ISC] Goodwill 0 Votes 1 Ans From the following information, calculate the value of goodwill of M/s Shiv and Shahid: 1.22K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A firm earns profit of ₹ 2,00,000. Normal rate of return in the similar business is 10%. Value of total assets (excluding goodwill) and total outside liabilities as on the due of valuation of goodwill are ₹ 23,00,000 and ₹ 6,60,000 respectively 966 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ajeet and Baljeet are partners in a firm. Their capitals are ₹ 9,00,000 and ₹ 6,00,000 respectively. During the year ended 31st March, 2023 the firm earned a profit of ₹ 4,50,000 913 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Average profit of GS & Co. is ₹ 50,000 per year. Average capital employed in the business is ₹ 3,00,000. If the normal rate of return on capital employed is 10%. Calculate goodwill of the firm by: i) Super Profit Method at three year’s purchase, and ii) Capitalisation of Super Profit Method. 624 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Average profit of the firm is ₹ 2,00,000. Total assets of the firm are ₹ 15,00,000 whereas Partner’s Capital is ₹ 12,00,000. If normal rate of return in a similar business is 10% of the capital employed, what is the value of goodwill by capitalisation of Super Profit? 702 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ravi and Kant are partners in a business with balances in their capital and Current Accounts as on 31st March, 2023 were: 1.23K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans From the following particulars, calculate value of goodwill of a firm by Capitalisation of Average Profit Method: i) Profits of last five consecutive years ending 31st March, are: 2023 – ₹ 54,000; 2022 – ₹ 42,000; 2021 – ₹ 39,000; 2020 – ₹ 67,000 and 2019 – ₹ 59,000. ii) Capitalisation rate 20% iii) Net Assets of the firm ₹ 2,00,000. 557 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A firm earns ₹ 3,00,000 as its annual profit, the rate of return being 12%. Assets and liabilities of the firm amounted to ₹ 36,00,000 and ₹ 12,00,000 respectively. Calculate value of goodwill by Capitalisation Method. 1.30K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans From the following information, calculate value of goodwill of the firm by Capitalisation Method: Total Capital of the firm ₹ 16,00,000. Normal Rate of Return 10% Profit for the year ₹ 2,00,000 465 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ayub and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April, 2023. They agreed to value goodwill at 3 years purchase by Super Profit Method for which they decided to average profit of last 5 years. The profits for the last 5 years were: 515 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans The average profit earned by a firm is ₹ 7,50,000 which includes overvaluation of stock of ₹ 30,000 on an average basis. The capital invested in the business is ₹ 42,00,000 and the normal rate of return is 15%. Calculate goodwill of the firm on the basis of 3 times the super profit. 544 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Average profit earned by a firm is ₹ 1,00,000 which includes undervaluation of stock of ₹ 40,000 on an average basis. The capital invested in the business is ₹ 6,30,000 and the normal rate of return is 5%. Calculate goodwill of the firm on the basis of 5 times the super profit. 570 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans On 1st April, 2023, a firm had assets of ₹ 7,50,000 including cash of ₹ 50,000. Its creditors amounted to ₹ 50,000 on that date. The firm had a reserve fund of ₹ 1,00,000 while Partner’s Capital Accounts showed a balance of ₹ 6,00,000 1.04K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A business earned an average profit of ₹ 1,80,000 during the last few years. The average capital employed by the firm is ₹ 12,50,000. If goodwill of the firm is valued at ₹ 1,60,000 at 2 year’s purchase of Super Profit. Find Normal Rate of Return. 1.08K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans A business has earned average profit of ₹ 2,50,000 during the last few years and the normal rate of return in similar business is 10%. If goodwill of the firm is valued at ₹ 3,00,000 at 3 year’s purchase of Super profit, find Capital Employed by the firm. 816 viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Varuna and Karuna are partners for equal shares. They admit Lata into partnership for 1/4th share. It was agreed to value goodwill of the firm at 4 year’s purchase of super profit 1.09K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ideal Marketing earned an average profit of ₹ 4,00,000 during the last five years. Normal rate of return on capital employed is 10%. Balance Sheet of the firm as at 31st March, 2023 was as follows: 1.03K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Capital of the firm of Anu and Benu is ₹ 5,00,000 and the market rate of interest is 15%. Annual salary to partners is ₹ 30,000 each. Profits for the last 3 years were ₹ 1,50,000; ₹ 1,80,000 and ₹ 2,10,000 1.19K viewsAnurag Pathak Changed status to publish 2 days ago[ISC] Goodwill[ISC} TS Grewal SolutionsAccountancy Class 12th 1 2 … 171 172 Question and answer is powered by anspress.net
