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Class 12 · Accountancy · Easy
→Goodwill is treated as which type of asset?
Class 12 · Accountancy · Easy
→A retires, and the gaining ratio of B and C is 1:3. The goodwill adjustment is ₹40,000. How much of the goodwill adjustment will C bear?
Class 12 · Accountancy · Easy
→A and B have a sacrificing ratio of 2:1. A new partner brings goodwill of ₹30,000. How much of the goodwill will A receive?
Class 12 · Accountancy · Easy
→What is the usual effect of efficient management on goodwill?
Class 12 · Accountancy · Easy
→What is the correct treatment of abnormal loss in goodwill valuation?
Class 12 · Accountancy · Easy
→A and B have an old profit-sharing ratio of 3:2. Their new ratio is 2:1. Who has sacrificed?
Class 12 · Accountancy · Easy
→How is the sacrificing ratio calculated?
Class 12 · Accountancy · Easy
→Average profit is ₹65,000 and normal profit is ₹50,000. If goodwill is valued at three years’ purchase, what is the goodwill?
Class 12 · Accountancy · Easy
→Average profit is ₹90,000 and normal profit is ₹70,000. What is the super profit?
Class 12 · Accountancy · Easy
→Profits are ₹20,000 and ₹30,000 with weights 1 and 2 respectively. What is the weighted average profit?
Class 12 · Accountancy · Easy
→Why is a stable customer base important for goodwill?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 3:2. Profit of ₹1,25,000 included unrealised income of ₹25,000. By how much will A’s profit share decrease after correction?
Class 12 · Accountancy · Medium
→A and B share profits in the ratio 2:1. Correct interest on capital was ₹18,000 and ₹12,000, but it was wrongly allowed as ₹20,000 and ₹10,000. What will happen in rectification?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. Income of ₹20,000 belonging to the firm was wrongly credited directly to A’s capital account. How much will B gain on rectification?
Class 12 · Accountancy · Hard
→A, B and C share profits in the ratio 3:2:1. C’s salary of ₹24,000 was omitted, although profit had already been distributed. How much will be debited to A’s account in the adjustment?
Class 12 · Accountancy · Hard
→Partner A is to receive commission at 12% of profit after charging such commission. Profit before commission is ₹1,12,000. What is the commission?
Class 12 · Accountancy · Hard
→If profit is insufficient and the deed states that salary is allowed first and interest on capital second, what order should be followed?
Class 12 · Accountancy · Medium
→If the partnership deed is silent, can a partner be allowed a salary?
Class 12 · Accountancy · Hard
→A and B share profits in the ratio 3:2. Income of ₹15,000 was omitted from the recorded profit of ₹1,00,000. By how much will B’s share increase on rectification?
Class 12 · Accountancy · Hard
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