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Class 12 · Accountancy
→The average profit is ₹85000 and the normal profit is ₹65000. If goodwill is valued at two years’ purchase of super profit, what will be the value of goodwill?
Class 12 · Accountancy
→Which formula is correct for calculating normal profit?
Class 12 · Accountancy
→Profits are ₹30000, ₹40000 and ₹50000 with weights (1,2,3). What is the weighted average profit?
Class 12 · Accountancy
→Under the average profit method of goodwill valuation, the total adjusted profit for four years is ₹240000. What is the average profit?
Class 12 · Accountancy
→How is abnormal gain treated under the average profit method?
Class 12 · Accountancy
→How is abnormal loss treated in profits under the average profit method?
Class 12 · Accountancy
→If old partners have fluctuating capital accounts, where is goodwill premium credited?
Class 12 · Accountancy
→Old partners have fixed capital accounts and goodwill adjustment is required. Through which account can shortfall or excess be adjusted?
Class 12 · Accountancy
→Goodwill accounting on admission of a partner is based on which principle?
Class 12 · Accountancy
→Why is opening a goodwill account avoided when it is not required?
Class 12 · Accountancy
→A and B are partners sharing profits in the ratio 3:2. C is admitted for a 1/6 share in the total profit, acquired entirely from B. What will be B’s new profit-sharing share?
Class 12 · Accountancy
→A and B share profits in (4:1). C gets (1/5) share only from A. What is the sacrificing ratio?
Class 12 · Accountancy
→What is the main difference between sacrificing ratio and gaining ratio?
Class 12 · Accountancy
→If an old partner's new share is more than his old share, what is it called?
Class 12 · Accountancy
→On the admission of a new partner, B's old profit-sharing share is (2/5) and the new share is (3/10). What is B's sacrifice ratio?
Class 12 · Accountancy
→A's old share is (3/5) and new share is (1/2). What is A's sacrifice?
Class 12 · Accountancy
→Why is it wrong to distribute goodwill premium among old partners in the new ratio?
Class 12 · Accountancy
→If a new partner brings more goodwill premium than his share, what is the effect of the excess?
Class 12 · Accountancy
→What does it mean if a bonus is given to the new partner?
Class 12 · Accountancy
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