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    • Posted by Muhammad Hadi 1 year, 8 months ago (15668635)

    CBSE > Class 07 > Mathematics
    • 0 answers
    ANSWER

    • Posted by Adi Cha 6 months, 2 weeks ago (15618475)

    CBSE > Class 07 > Computer
    • 0 answers
    ANSWER

    • Posted by Adrika Dutta 1 year, 8 months ago (14792470)

    CBSE > Class 07 > Computer
    • 0 answers
    ANSWER

    • Posted by Hans Raj 1 year, 8 months ago (15674152)

    CBSE > Class 10 > English Language and Literature
    • 0 answers
    ANSWER

    • Posted by Saurav Bhardwaj 1 year, 8 months ago (15674048)

    CBSE > Class 11 > Economics
    • 1 answers

    Sabari S.K 8 months, 2 weeks ago (13283748)

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    1. Dinesh and Mahesh are partners sharing profits and losses in the ratio of 3 : 2. They admit Ramesh into partnership for 1/4th share in profits. Ramesh brings in his share of goodwill in cash. Goodwill for this purpose shall be calculated at two years’ purchase of the weighted average normal profit of past three years. Weights being assigned to each year 2017–1; 2018–2 and 2019–3. Profits of the last three years were: 2017—Profit ` 50,000 (including profits on sale of assets ` 5,000). 2018—Loss ` 20,000 (including loss by fire ` 35,000). 2019—Profit ` 70,000 (including insurance claim received ` 18,000 and interest on investments and dividend received ` 8,000). Calculate the value of goodwill. Also, calculate the goodwill brought in by Ramesh. [Ans.: Goodwill—` 69,000; Ramesh shall bring 1/4th of ` 69,000, i.e., ` 17,250 as Goodwill.] 2. Manbir and Nimrat are partners and they admit Anahat into partnership. It was agreed to value goodwill at three years’ purchase on Weighted Average Profit Method taking profits of last five years. Weights assigned to each year as 1, 2, 3, 4 and 5 respectively to profits for the year ended 31st March, 2015 to 2019. The profits for these years were: ` 70,000, ` 1,40,000, ` 1,00,000, ` 1,60,000 and ` 1,65,000 respectively. Scrutiny of books of account revealed following information: (i) There was an abnormal loss of ` 20,000 in the year ended 31st March, 2015. (ii) There was an abnormal gain (profit) of ` 30,000 in the year ended 31st March, 2016. (iii) Closing Stock as on 31st March, 2018 was overvalued by ` 10,000. Calculate the value of goodwill. [Ans.: Value of Goodwill—` 4,17,000.] 3. Mahesh and Suresh are partners and they admit Naresh into partnership. They agreed to value goodwill at three years’ purchase on Weighted Average Profit Method taking profits for the last five years. They assigned weights from 1 to 5 beginning from the earliest year and onwards. The profits for the last five years were as follows: Year Ended 31st March, 2015 31st March, 2016 31st March, 2017 31st March, 2018 31st March, 2019 Profits (`) 1,25,000 1,40,000 1,20,000 55,000 2,57,000 Scrutiny of books of account revealed the following: (i) A second-hand machine was purchased for ` 5,00,000 on 1st July, 2017 and ` 1,00,000 were spent to make it operational. ` 1,00,000 were wrongly debited to Repairs Account. Machinery is depreciated @ 20% p.a. on Written Down Value Method. (ii) Closing Stock as on 31st March, 2018 was undervalued by ` 50,000. (iii) Remuneration to partners was to be considered as charge against profit and remuneration of ` 20,000 p.a. for each partner was considered appropriate. Calculate the value of goodwill. [Ans.: Goodwill—` 3,75,000.] 4. Calculate the goodwill of a firm on the basis of three years’ purchase of the weighted average profit of the last four years. The appropriate weights to be used and profits are: Year 2015–16 2016–17 2017–18 2018–19 Profits (`) 1,01,000 1,24,000 1,00,000 1,40,000 Weights 1 2 3 4 On a scrutiny of the accounts, the following matters are revealed: (i) On 1st December, 2017, a major repair was made in respect of the plant incurring ` 30,000 which was charged to revenue. The said sum is agreed to be capitalised for goodwill calculation subject to adjustment of depreciation of 10% p.a. on Reducing Balance Method.

    • Posted by Nitin Negi 1 year, 8 months ago (15673981)

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER
    http://mycbseguide.com/examin8/

    • Posted by Akshifa Akshifa.S 1 year, 8 months ago (15673975)

    CBSE > Class 09 > Science
    • 3 answers

    Kritika Sanwariya 1 year, 8 months ago (15592023)

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    0 Thank You

    Anna Jolie 1 year, 8 months ago (14941261)

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    0 Thank You

    Swayamshree Bhuyan 1 year, 8 months ago (15662903)

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    ANSWER

    • Posted by Thanu T 1 year, 8 months ago (13041839)

    CBSE > Class 10 > English Language and Literature
    • 1 answers

    Anandita Dogra 1 year, 8 months ago (15544679)

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    0 Thank You

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    • Posted by Jyoti Jyoti 1 year, 8 months ago (14332784)

    CBSE > Class 12 > राजनीति विज्ञान
    • 0 answers
    ANSWER

    • Posted by Priyanka Agarwal 1 year, 8 months ago (15673842)

    CBSE > Class 07 > Mathematics
    • 0 answers
    ANSWER

    • Posted by Sanjeev Kumar 1 year, 8 months ago (15019025)

    CBSE > Class 10 > English Communicative (101)
    • 0 answers
    ANSWER

    • Posted by Paneet Singh 1 year, 8 months ago (15673684)

    Haryana Board > Class 09 > English
    • 0 answers
    ANSWER

    • Posted by Paneet Singh 1 year, 8 months ago (15673684)

    Haryana Board > Class 09 > English
    • 0 answers
    ANSWER

    • Posted by Jyoti Narang 1 year, 8 months ago (4636418)

    CBSE > Class 08 > Computer
    • 0 answers
    ANSWER

    • Posted by Aman Kanojiya 1 year, 8 months ago (14345509)

    CBSE > Class 10 > English Language and Literature
    • 0 answers
    ANSWER

    • Posted by Tannu Nikam 1 year, 8 months ago (15652606)

    CBSE > Class 10 > Social Science
    • 1 answers

    Anandita Dogra 1 year, 8 months ago (15544679)

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    0 Thank You

    ANSWER

    • Posted by Yashika Sain 1 year, 8 months ago (15083417)

    CBSE > Class 10 > Mathematics
    • 1 answers

    Abhinav Kumar 1 year, 8 months ago (10235903)

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    0 Thank You

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    • Posted by Sunil Gahlyan 1 year, 8 months ago (15673590)

    CBSE > Class 09 > हिंदी ए
    • 0 answers
    ANSWER

    • Posted by Ashish Gujjar 1 year, 8 months ago (15673557)

    CBSE > Class 08 > Mathematics
    • 0 answers
    ANSWER

    • Posted by Nishka Dabas 1 year, 8 months ago (15604862)

    CBSE > Class 07 > Mathematics
    • 0 answers
    ANSWER

    • Posted by Tarun Shivas 1 year, 8 months ago (15673527)

    CBSE > Class 10 > English Communicative (101)
    • 0 answers
    ANSWER

    • Posted by Gautam Jha Jha 1 year, 8 months ago (15382570)

    CBSE > Class 10 > Science
    • 1 answers

    Priyal Khandelwal 1 year, 8 months ago (15575047)

    Magnesium ribbon should be cleaned before burning the air because it forms a coating of magnesium oxide being in contact with oxygen and hence to burn magnesium ribbon we need to remove the coating .

    1 Thank You

    ANSWER

    • Posted by Anushka Rana 1 year, 8 months ago (15673499)

    CBSE > Class 09 > Science
    • 0 answers
    ANSWER

    • Posted by Aadrika Sinha 1 year, 8 months ago (15551386)

    CBSE > Class 09 > Mathematics
    • 0 answers
    ANSWER

    • Posted by Aditya Singh 1 year, 8 months ago (15670180)

    CBSE > Class 11 > English Core
    • 1 answers

    Aarush Choudhary 1 year, 8 months ago (15027028)

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    2 Thank You

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    • Posted by Anahad Hundal 1 year, 8 months ago (15673314)

    CBSE > Class 11 > English Core
    • 1 answers

    Moushina Khan 1 year, 8 months ago (14345834)

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    4 Thank You

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    • Posted by Gursimran Kaur 1 year, 8 months ago (15673256)

    CBSE > Class 11 > English Core
    • 0 answers
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    • Posted by Gursimran Kaur 1 year, 8 months ago (15673256)

    CBSE > Class 11 > English Core
    • 0 answers
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    • Posted by Prachi Prachi 1 year, 8 months ago (9614660)

    CBSE > Class 10 > English Communicative (101)
    • 0 answers
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    • Posted by Mayuri Yadav 1 year, 8 months ago (15673234)

    CBSE > Class 08 > Social Science
    • 0 answers
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