Questions Ask question Search Order By: ActiveCategoryClear Filter 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: 2.07K 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: 2.87K 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%. 3.35K 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. 5.51K 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. 5.48K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans On 1st April 2018, the firm had assets of ₹ 1,00,000 excluding stock of ₹ 20,000. The current liabilities were ₹ 10,000 and the balance constituted Partner’s Capital Accounts. 4.50K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A firm earns a profit of ₹ 5,00,000. The normal Rate of Return in a similar type of business is 10%. The value of total assets (excluding goodwill) and total outsider’s liabilities as on the date of goodwill are ₹ 55,00,000 and ₹ 14,00,000 respectively. 3.46K 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 ₹ 4,00,000 during the last few years and the normal rate of return in a similar business is 10%. Find the value of goodwill by: 3.43K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans From the following particulars, calculate the value of goodwill of a firm by the Capitalisation of Average Profit Method. 3.54K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Puneet and Tarun are in the restaurant business having credit balances in their fixed capital accounts as ₹ 2,50,000 each. They have credit balances in their Current Accounts of ₹ 30,000 and ₹ 20,000 respectively. The firm does not have any liability. 5.25K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A and B were partners in a firm with capitals of ₹ 3,00,000 and ₹ 2,00,000 respectively, The normal rate of return was 20% and the capitalised value of average profits was ₹ 7,50,000. Calculate the goodwill of the firm by capitalisation of the average profit method. 5.33K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A firm earned an average profit of ₹ 3,00,000 during the last few years. The normal rate of return of the industry is 15%. The assets of the business were ₹ 17,00,000 and its liabilities were ₹ 2,00,000. Calculate the goodwill of the firm by Capitalisation of average profit. 3.50K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans From the following information, Calculate the value of the goodwill of the firm by applying Capitalisation Method. Total Capital of the firm ₹ 16,00,000. Normal Rate of Return 10% Profit for the year ₹ 2,00,000 2.76K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 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 of super profit method for which they decided to average profit of last 5 years. The profits for the last 5 years were: 4.16K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans 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 the goodwill of the firm on the basis of 3 times the super profit. 2.99K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The average profit earned by a firm is ₹ 1,00,000 which includes an undervaluation of stock of ₹ 40,000 on an average basis. 3.27K 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 ₹ 2,00,000 and the normal rate of return in a similar business is 10%. If the goodwill of the firm is ₹ 2,50,000 at 4 years’ purchase of super profit, find the capital employed by the firm. 5.77K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans On 1st April 2023, an existing firm had assets of ₹ 75,000 including cash of ₹ 5,000. Its creditors amounted to ₹ 5,000 on that date. The firm had a Reserve of ₹ 10,000 while Partner’s Capital Accounts showed a balance of ₹ 60,000. 4.61K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A partnership firm earned net profits during the last three years ended 31st March, as follows: 3.11K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The average net profit expected in the future by XYZ firm is ₹ 36,000 per year. The average capital employed in the business by the firm is ₹ 2,00,000. 3.23K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans A business earned an average profit of ₹ 8,00,000 during the last few years. The normal rate of profits in a similar type of business is 10%. The total value of assets and liabilities of the business were ₹ 22,00,000 and ₹ 5,60,000 respectively. 4.86K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans The total capital of the firm of Sakshi, Mehak, and Megha is ₹ 1,00,000 and the market rate of interest is 15%. The net profits for the last 3 years were ₹ 36,000 and ₹ 42,000. 4.09K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Raman and Daman are partners sharing profits in the ratio of 60 : 40 and for the last four years they have been getting annual salaries of ₹ 50,000 and ₹ 40,000 respectively. The annual accounts have shown the following net profit before charging partner’s salaries: 5.62K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Sumit purchased Amit’s business on 1st April 2023. Goodwill was decided to be valued at two years’ purchase of average normal profit of the last four years. The profits for the past four years were: 3.75K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill 0 Votes 1 Ans Bhaskar and Pillai are partners sharing profits and losses in the ratio of 3 : 2. They admit Kanika into the partnership for 1/4th share in profit. Kanika brings her share of goodwill in cash. Goodwill for this purpose is to be calculated at two years’ purchase of the average normal profit of the past three years. Profits for the last three years ended 31st March were: 5.11K viewsAnurag Pathak Changed status to publish April 17, 2023[CBSE] TS Grewal SolutionsAccountancy Class 12thGoodwill « Previous 1 2 … 151 152 153 154 155 … 161 162 Next » Question and answer is powered by anspress.net
