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Zephaniah
Subject: Accountancy
, asked 2 hours, 13 minutes ago
Experts can you tell me the answer of this question
Ramesh and Suresh are partners sharing profits equally. They admit Dinesh into partnership. It was agreed to value goodwill at 3 years’ purchase following Weighted Average Profit method on the basis of past 5 years’ profits. Weights assigned to each year would be- years ended 31st March, 2015-1, 2016-2, 2017-3, 2018-4 and 2019-5.
Year Ended Profits (₹)
31.03.2015 90,000
31.03.2016 80,000
31.03.2017 1,25,000
31.03.2018 1,50,000
31.03.2019 1,75,000
Scrutiny of books of account revealed the following:
1. There was an abnormal loss of ₹ 15,000 during the year ended 31st March, 2015.
2. There was an abnormal gain of ₹ 10,000 during the year ended 31st March, 2017.
3. Closing Stock as on 31st March, 2018 was overvalued by ₹ 15,000.
Calculate value of goodwill. (3 marks).
Answer
1
Zephaniah
Subject: Accountancy
, asked 2 hours, 18 minutes ago
Experts can you tell me the answer of this question
The average profit earned by a firm is ₹ 95,000 which includes undervaluation of stock of ₹ 10,000 on an average basis. The capital invested in the business is ₹ 9,00,000 and the normal rate of return is 9%. Calculate goodwill of the firm on the basis of 8 times the super profit.
(3 marks).
Answer
1
Zephaniah
Subject: Accountancy
, asked 2 hours, 19 minutes ago
Experts can you pls tell me the answer of this
A business has earned average profits of ₹ 1,00,000 during the last few years and the normal rate of return in similar business is 10%. Find out the value of goodwill by:
a. Capitalization of super profit method.
b. Super profit method if the goodwill is valued at 3 years’ purchase of super profit.
The assets of the business were ₹ 10,00,000 and its external liabilities ₹ 1,80,000.
Answer
1
Rhema
Subject: Accountancy
, asked 3 hours, 3 minutes ago
Why is it not essential for all the partners to share losses ?
Answer
1
Devansh Jain
Subject: Maths
, asked 5 hours, 36 minutes ago
Pls find the value of the required.
Answer
1
Devansh Jain
Subject: Maths
, asked 5 hours, 37 minutes ago
Pls find value of x inv. Trigonometry
Answer
1
Surabhi
Subject: Accountancy
, asked 5 hours, 49 minutes ago
Find out the areas where personal judgement is involved while preparing financial statements ? (a) Rent payment (b) Stock valuation (c) Depreciation (d) Both (b) and (c)
Answer
1
Kuljinder Singh
Subject: English
, asked 1 day, 1 hour ago
-Write an article on " Lifestyle Diseases are an Economic Burden on Health Services".
Answer
1
Kuljinder Singh
Subject: English
, asked 1 day, 1 hour ago
Mam it is visible
Answer
1
Chandni Arya
Subject: Accountancy
, asked 1 day, 2 hours ago
When I solve this question from statement method I'm getting 55,000 as subscription received in advance(end)
but the hint is showing 65,000 amount? How?
Answer
2
Tanisha 😘😍🥰
Subject: Maths
, asked 1 day, 3 hours ago
Please ans this qs. Of class 8 maths...
Answer
1
Sahar Mulla
Subject: Maths
, asked 1 day, 5 hours ago
Answer for this question please..thank you
Answer
2
Chetan Bansal
Subject: Accountancy
, asked 1 day, 10 hours ago
Why amount of 8000 and 7000 not recorded in account??
Answer
1
Chetan Bansal
Subject: Accountancy
, asked 1 day, 11 hours ago
Answer of 50th question
Answer
2
Kuljinder Singh
Subject: English
, asked 1 day, 21 hours ago
Fastt please jaldi
Answer
1
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What are you looking for?
Ramesh and Suresh are partners sharing profits equally. They admit Dinesh into partnership. It was agreed to value goodwill at 3 years’ purchase following Weighted Average Profit method on the basis of past 5 years’ profits. Weights assigned to each year would be- years ended 31st March, 2015-1, 2016-2, 2017-3, 2018-4 and 2019-5.
Year Ended Profits (₹)
31.03.2015 90,000
31.03.2016 80,000
31.03.2017 1,25,000
31.03.2018 1,50,000
31.03.2019 1,75,000
Scrutiny of books of account revealed the following:
1. There was an abnormal loss of ₹ 15,000 during the year ended 31st March, 2015.
2. There was an abnormal gain of ₹ 10,000 during the year ended 31st March, 2017.
3. Closing Stock as on 31st March, 2018 was overvalued by ₹ 15,000.
Calculate value of goodwill. (3 marks).
The average profit earned by a firm is ₹ 95,000 which includes undervaluation of stock of ₹ 10,000 on an average basis. The capital invested in the business is ₹ 9,00,000 and the normal rate of return is 9%. Calculate goodwill of the firm on the basis of 8 times the super profit.
(3 marks).
A business has earned average profits of ₹ 1,00,000 during the last few years and the normal rate of return in similar business is 10%. Find out the value of goodwill by:
a. Capitalization of super profit method.
b. Super profit method if the goodwill is valued at 3 years’ purchase of super profit.
The assets of the business were ₹ 10,00,000 and its external liabilities ₹ 1,80,000.
but the hint is showing 65,000 amount? How?