Posted inAccountancy Class 12 General
A firm earned an average profit of Rs 3,00,000
26 :- A firm earned an average profit of Rs 3,00,000 during the last few years. The normal rate of return of the industry is 15%. The assets of the business…
Posted inAccountancy Class 12 General
From the following information, calculate value of goodwill
25 :- From the following information, calculate value of goodwill of the firm by applying Capitalisation methodTotal capital of the firm Rs 16,00,000Normal rate of return 10%Profit for the year Rs…
Posted inAccountancy Class 12 General
Question 22 to 24 (Super Profit Method when Past Adjustments are Made)
22 :- Average profit earned by a firm is Rs 1,00,000 which includes undervaluation of stock of Rs 40,000 on an average basis. The capital invested in a business is…
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Akshay and Amit are partners in a firm and they admit Jaspal
24 :- Akshay and Amit are partners in a firm and they admit Jaspal into partnership w.ef. 1st April, 2025. They agreed to value goodwill at 3 years purchase of Super…
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Question 17 to 21 (Calculation of Average Profit, Normal Rate of Return and Capital Employed)
17 :- On 1st April, 2025, an existing firm had assets of Rs 75,000 including cash of Rs 5,000. Its creditor amounted to Rs 5,000 on that date. The firm had…
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A business earned an average profit of Rs 1,80,000
20 :- A business earned an average profit of Rs 1,80,000 during the last few years. Average capital employed by the firm is Rs 12,50,000. If goodwill of the firm…
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Question 10 to 16 (Super Profit Method)
10 :- The Capital of the firm of Anuj and Benu is Rs 10,00,000 and the market rate of interest is 15%. The annual salary of the partners is Rs 60,000 each.…
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Amit and Kartik are partners sharing profits and losses equally
16 :- 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…
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A partnership firm earned net profits during the last three years
15 :- A partnership firm earned net profits during the last three years ended 31st March, as follows: 2023 – Rs 17,000; 2024 –Rs 20,000; 2025 – Rs 23,000 Capital investment in the firm…
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Average net profit expected in the future by XYZ firm is Rs 36,000
14 :- Average net profit expected in the future by XYZ firm is Rs 36,000 per year. The Average capital employed in the business by the firm is Rs 2,00,000. The normal rate…