Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A and B are partners. They admit C for 1/4th share in profits. For this purpose goodwill is to be valued at three year’s purchase of super profits. 551 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th 0 Votes 0 Ans Find out the capital employed from the following information: Normal rate of return: 12% 273 viewsAnurag Pathak Changed status to publish July 12, 2024Accountancy Class 12th 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%. Annual salary to the partners is ₹ 60,000 each. The profit for the last three years were ₹ 2,80,000, ₹ 3,80,000 and ₹ 4,20,000 435 viewsAnurag Pathak Answered question July 12, 2024Accountancy Class 12th 0 Votes 1 Ans Capital invested in a firm is ₹ 3,00,000. Normal rate of return is 10%. Average profits of the firm are ₹ 41,000 (after an abnormal loss of ₹ 2,000). Calculate goodwill at five times the super profits 344 viewsAnurag Pathak Changed status to publish July 12, 2024Accountancy Class 12th 0 Votes 1 Ans Pratik, Nitish and Avinash are in partnership sharing profits equally. Avinash died on 30th June 1.46K viewsAnurag Pathak Changed status to publish July 12, 2024[ISC] Death of Partner 0 Votes 1 Ans A firm earned profits of ₹ 80,000, ₹ 1,00,000, ₹ 1,20,000 and ₹ 1,80,000 during 2010-11, 2011-12, 2012-13 and 2013-14 respectively. The firm has capital investment of ₹ 5,00,000 921 viewsShruti Ahuja Changed status to publish July 7, 2024 0 Votes 1 Ans Amit, Balan and Chander were partners in a firm sharing profits in the proportion of 1/2, 1/3 and 1/6 respectively. Chander retired on 1st April, 2014. The Balance Sheet of the firm on the date of Chander’s retirement was as follows: 5.03K viewsAnurag Pathak Changed status to publish July 6, 2024[CBSE] TS Grewal SolutionsAccountancy Class 12thRetirement of Partner 0 Votes 1 Ans Prepare Sales Book from the following transactions of Gurman Traders dealing in furniture. Open the Ledger Accounts also: 1.36K viewsAnurag Pathak Changed status to publish July 1, 2024Other BookTS Grewal Class 11 0 Votes 1 Ans Calculate the value of goodwill on the basis of three year’s purchase of the weighted average profits of the last five years. Profits to be weighted 1, 2, 3, 4 and 5, the greatest weightage to be given to last year. Profits of the last five years were 769 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans Following information is available about the business of a firm: Profits : In 2022, ₹ 40,000; In 2023, ₹ 50,000; In 2024, ₹ 60,000 Non-recurring income of ₹ 1,000 is included in the profits of 2023 821 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans The profits earned by a firm during the last four years were as follows: Profits ₹ 80,000 582 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans A, B and C are partners sharing profits and losses equally. They agree to admit D for equal share. For this purpose goodwill is to be valued at 3 year’s purchase of average profits of last 5 years which were as follows: 784 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans A, B and C are partners in a firm sharing profits and losses in the ratio of 3 : 2 : 1. They decide to take D into partnership for 1/4th share on 1st April, 2022. For this purpose, goodwill is to be valued at 3 times the average annual profits of the previous four or five years whichever is higher 712 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans X purchased the business of Y from 1st April, 2023. For this purpose goodwill is to be valued at 100% of the average annual profits of the last four years. The profits shown on Y’s business for the last four years were: 795 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans The goodwill of a firm is valued at 4 year’s purchase of average profits of last five years. The profits of the last five years were: 593 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans Mahesh, Naresh and Om were partners sharing profits in the ratio of 2 : 3 : 4. With effect from 1st April, 2023 they agreed to share profits in the ratio of 1 : 2 : 3. Calculate each partner’s gain or sacrifice due to change in ratio 522 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans A, B and C were in partnership sharing profits in the ratio of 4 : 3 : 1. The partners agreed to share future profits in the ratio of 5 : 4 : 3 594 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans A and B were in partnership sharing profits equally. With effect from 1st April, 2023 they agreed to share profits in the ratio of 4 : 3 447 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans X and Y were partners in a firm sharing profits in the ratio of 5 : 3. With effect from 1st April, 2023 they agreed to share profits equally 573 viewsAnurag Pathak Answered question June 27, 2024 0 Votes 1 Ans A, B and C were partners sharing profits in the ratio of 3 : 2 : 1. The firm closes its books on 31st March every year. B died on 30th June, 2022. 3.67K viewsAnurag Pathak Changed status to publish June 22, 2024[CBSE] Death of Partner[CBSE] TS Grewal Solutions 0 Votes 1 Ans Raman, Shiv and Mukesh were in partnership sharing profits and losses in the ratio of 3 : 2 : 1. Their Balance Sheet as at 31st March, 2023 was as follows: 1.16K viewsAnurag Pathak Answered question June 21, 2024[ISC] Dissolution (2023-24) 0 Votes 1 Ans Pawan and Arun are partners in a firm sharing profits and losses in the ratio of 3 : 2. They decided to dissolve their firm on 31st March, 2023, when their Balance Sheet was as follows 938 viewsAnurag Pathak Answered question June 21, 2024[ISC] Dissolution (2023-24) 0 Votes 1 Ans Ankur Aditya and Pankaj were partners sharing profits and losses in the ratio of 2 : 2 : 1. On 1st April, 2022, their Balance Sheet was as follows: 990 viewsAnurag Pathak Answered question June 21, 2024[ISC] Dissolution (2023-24) 0 Votes 1 Ans Nimrat and Deep are partners having capitals as on 1st April, 2023 as Nimrat – ₹ 4,80,000 and Deep as ₹ 1,00,000 (Debit) 766 viewsAnurag Pathak Answered question June 19, 2024[ISC] Fundamentals of Partnership 0 Votes 1 Ans Puneet and Tarun are partners sharing profits and losses in the ratio of 3 : 2. They admit Simran as a partner who acquires 2/7th from Puneet and 1/7th from Tarun as her share 754 viewsAnurag Pathak Answered question June 13, 2024[ISC] Admission of Partner « Previous 1 2 … 16 17 18 19 20 … 161 162 Next » Question and answer is powered by anspress.net
