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what are super profits

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what are super profits

Posted by Manan Maloo 8 years, 5 months ago

CBSE > Class 12 > Accountancy

1 answers

Varun Banda 8 years, 5 months ago

Super profit is the excess of average profits over normal profits. Under this method, goodwill is calculated on the basis of super profits. Normal rate of return on the capital employed is compared with the actual average profits to find out the super profits.

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Posted by Annu Sahani 1 year, 8 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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Posted by Mahi . 1 year, 8 months ago

CBSE > Class 12 > Accountancy

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Posted by Shashank Shukla 1 year, 8 months ago

CBSE > Class 12 > Accountancy

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Posted by Palak Kumari 6 months, 3 weeks ago

CBSE > Class 12 > Accountancy

0 answers

Accounting for partnership Firms Fundamentals notes

Posted by Mohd Aman Mansoori 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

U and V Were Partners in a firm

Posted by Tanishk Kabra 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

Ativ, Meha and Nupur were partners in a firm sharing profits and losses in the ratio of 5 : 3:2. On 31-03-2016 their Balance sheet was as under: Liabilities Amount (T) Assets Amount (R) | Trade Creditors 26,500 Bank 23.500 Debtors 1,00,000 Stock 50,000 Fixed Assets 40,000 Advertisement Expenditure 25,000 Employees Provident Fund Ativ's Capital Meha's Capital 30,000 55,000 1,20,000 Nupur's Capital 10,000 2,40,000 2,40,000 Ativ retired on 1-4-2016. For this purpose, the following adjustments were agreed upon: (i) Goodwill of the firm was to be valued at 2 years purchase of the average profits of 3 completed years preceding the date of retirement. The profit for previous years were: 2013-14 55,000; 2014-15 7 65,000; 2015-16 7 60,000.

Posted by Munni Lal 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Riya Chandan 1 year, 8 months ago

CBSE > Class 12 > Accountancy

0 answers

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Posted by Srishti Arya 1 year, 5 months ago

CBSE > Class 12 > Accountancy

0 answers

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