General Archives - Page 31 of 35

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…

Accountancy Class 12 General

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…

Accountancy Class 12 General

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…

Accountancy Class 12 General

A and B were partners in a firm sharing profits equally

13 :- A and B were partners in a firm sharing profits equally. Their capitals were: A – Rs 1,20,000 and B – Rs 80,000. The annual rate of interest…

Accountancy Class 12 General

Sakshi and Megha were partners sharing profits and losses in the ratio of 3:1

12 :- Sakshi and Megha were partners sharing profits and losses in the ratio of 3:1. Capital employed as on 31st March, 2024 was Rs 14,00,000. Profit earned on an average…

Accountancy Class 12 General

Atul and Bipul had a firm in which they had invested Rs 50,000

11 :- Atul and Bipul had a firm in which they had invested Rs 50,000. On average, the profits were Rs 16,000. The normal rate of return in the industry is 15%.…

Accountancy Class 12 General

The capital of the firm of Anuj and Benu

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.…

Accountancy Class 12 General

Question 8 to 9 (Weighted Average Profit Method)

8 :- Profits of a firm for the year ended 31st March for the last five years were Calculate the value of goodwill on the basis of three years’ purchase…

Accountancy Class 12 General

Raman and Daman are partners sharing profits in the ratio of 60 : 40

9 :- 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 Rs 50,000…

Accountancy Class 12 General

Profits of a firm for the year ended 31st March for the last five years were

8 :- Profits of a firm for the year ended 31st March for the last five years were Calculate the value of goodwill on the basis of three years’ purchase…