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Class 12 · Accountancy
→When a partner retires, what is the adjustment made for goodwill in his favour regarded as compensation for?
Class 12 · Accountancy
→A partnership firm has an actual average profit of ₹50,000 and a normal profit of ₹35,000. What is the firm's super profit?
Class 12 · Accountancy
→The capital employed is ₹2,00,000 and the normal rate of return is 10%. What is the normal profit?
Class 12 · Accountancy
→The super profit is ₹15,000 and the number of years’ purchase is 3. What is the value of goodwill under the super profit method?
Class 12 · Accountancy
→On what basis is goodwill valued under the super profit method?
Class 12 · Accountancy
→The average profit is ₹40,000 and the years’ purchase is 2. What is the value of the firm’s goodwill?
Class 12 · Accountancy
→How is goodwill usually calculated under average profit method?
Class 12 · Accountancy
→If the firm's total goodwill is ₹1,20,000 and the retiring partner's share in goodwill is 8\frac{1}{4}9, what amount will be credited to the partner's capital account?
Class 12 · Accountancy
→When the retiring partner’s share of goodwill is settled through adjustment in the capital accounts, what effect does it have on the remaining partners’ capital?
Class 12 · Accountancy
→When a partner retires and goodwill is adjusted, in which ratio are the capital accounts of the partners gaining the retiring partner’s share debited?
Class 12 · Accountancy
→If partner B’s old share is \(\frac{2}{5}\) and his new share is \(\frac{1}{2}\), what is B’s gaining ratio?
Class 12 · Accountancy
→If the firm's total goodwill is ₹90,000 and the deceased partner's share in goodwill is \(1/5\), what will be the amount of the goodwill claim?
Class 12 · Accountancy
→In case of death of a partner the goodwill share is credited to which account?
Class 12 · Accountancy
→Who gets the most direct benefit from goodwill on retirement?
Class 12 · Accountancy
→The goodwill recorded in the books is ₹30,000, and the old partners A and B share profits in the ratio of 2:1. When the goodwill is written off from the books, what amount will be debited to A’s Capital Account?
Class 12 · Accountancy
→Why is the existing goodwill account usually written off on retirement?
Class 12 · Accountancy
→If A retires and B and C take his share in (3:2), then what ratio is this?
Class 12 · Accountancy
→Total firm goodwill is (₹60000) and the retiring partner's old share is (1/3). What is his goodwill share?
Class 12 · Accountancy
→In the usual goodwill settlement entry what happens to gaining partners' capital accounts?
Class 12 · Accountancy
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