No products in the cart.

Physics Chemistry Biology Mathematics Applied Maths Accountancy Economics Business Studies English Core हिंदी कोर History Political Science Geography Sociology Psychology Physical Education Computer Science Informatics Practices Painting Legal Studies Home Science Entrepreneurship Reasoning & Mental Ability जीव विज्ञान मनोविज्ञान लेखाशास्त्र रसायन विज्ञान भौतिक विज्ञान गणित अर्थशास्त्र व्यवसाय अध्ययन English Elective NCERT हिंदी ऐच्छिक इतिहास राजनीति विज्ञान भूगोल समाजशास्त्र Engineering Graphics गृह विज्ञान शारीरिक शिक्षा Multimedia and Webtech English Elective CBSE (Deleted) संस्कृत कोर (भास्वती) संस्कृत ऐच्छिक (शाश्वती) Philosophy (Deleted) Biotechnology Financial Market Management Other Subjects Regional Language Information Technology (802)

Ask questions which are clear, concise and easy to understand.

Ask Question

    • Posted by Kamakshi Thakur 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Rohini Chauhan 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Kavya नायक 1 year, 4 months ago

    CBSE > Class 12 > Home Science
    • 0 answers
    ANSWER

    • Posted by Arbaaz Alam 1 year, 4 months ago

    CBSE > Class 12 > Physics
    • 0 answers
    ANSWER

    • Posted by Kajal Verma 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Koyal Makal 1 year, 4 months ago

    CBSE > Class 12 > History
    • 0 answers
    ANSWER

    • Posted by Varthu Rajan 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 1 answers

    Mr Thunder 1 year, 2 months ago

    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

    Few rules to keep homework help section safe, clean and informative.
    • Don't post personal information, mobile numbers and other details.
    • Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
    • Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
    • Ask specific question which are clear and concise.

    Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

    19Thank You

    ANSWER
    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, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Jyoti Jyoti 1 year, 4 months ago

    CBSE > Class 12 > राजनीति विज्ञान
    • 0 answers
    ANSWER

    • Posted by Om Narayan 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Om Narayan 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 1 answers

    Om Narayan 1 year, 4 months ago

    F and G were partners in a firm sharing profits in the ratio of 3 : 2 : 1. After division of the profits for the year ended 31-3-2023 their capitals were: E ₹ 2,95,000; F ₹ 3,30,000; and G ₹ 3,35,000. During the year they withdrew ₹ 40,000 each. The profit of the year was ₹ 1,80,000. The partnership deed provided that interest on capital will be allowed @ 12% p.a. While preparing the final accounts, interest on partner’s capital was not allowed. You are required to calculate the capital of E, F and as on 1-4-2022 and pass the necessary adjustment entry for providing interest on capital. Show your workings clearly. [4] 16. P

    1Thank You

    ANSWER

    • Posted by Kanishka Singhal 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Kanishka Singhal 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    • Posted by Gumaan Singh Chauhan 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 1 answers

    Shivam Kumar 1 year, 4 months ago

    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

    Few rules to keep homework help section safe, clean and informative.
    • Don't post personal information, mobile numbers and other details.
    • Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
    • Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
    • Ask specific question which are clear and concise.

    Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

    1Thank You

    ANSWER

    • Posted by Kairav Bakshi 1 year, 4 months ago

    CBSE > Class 12 > Mathematics
    • 0 answers
    ANSWER

    • Posted by Kamna Kataria 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Garima Shar 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Vishal Rajak 1 year, 4 months ago

    CBSE > Class 12 > Biology
    • 1 answers

    Madhu Tanwar 1 year, 4 months ago

    Reduces friction and allows moving machine part to slide smoothly past each other

    2Thank You

    ANSWER

    • Posted by Diksha Mishra 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 1 answers

    Mr Thunder 1 year, 4 months ago

    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

    Few rules to keep homework help section safe, clean and informative.
    • Don't post personal information, mobile numbers and other details.
    • Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
    • Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
    • Ask specific question which are clear and concise.

    Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

    1Thank You

    ANSWER

    • Posted by Diksha Mishra 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Diksha Mishra 1 year, 4 months ago

    CBSE > Class 12 > English Core
    • 0 answers
    ANSWER

    • Posted by Shagun Kashyap 1 year, 4 months ago

    CBSE > Class 12 > Economics
    • 0 answers
    ANSWER

    • Posted by Shivesh Pratap 1 year, 4 months ago

    CBSE > Class 12 > English Elective NCERT
    • 1 answers

    Laxmikant Karuan 1 year, 4 months ago

    Her brother

    0Thank You

    ANSWER

    • Posted by Bhalla Arora 1 year, 4 months ago

    CBSE > Class 12 > Other Subjects
    • 0 answers
    ANSWER

    • Posted by Bhalla Arora 1 year, 4 months ago

    CBSE > Class 12 > Other Subjects
    • 0 answers
    ANSWER

    • Posted by Naina Sinha 1 year, 4 months ago

    CBSE > Class 12 > Business Studies
    • 1 answers

    Naina Gupta 1 year, 4 months ago

    This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

    Few rules to keep homework help section safe, clean and informative.
    • Don't post personal information, mobile numbers and other details.
    • Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
    • Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
    • Ask specific question which are clear and concise.

    Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

    0Thank You

    ANSWER

    • Posted by Isha Devi 1 year, 4 months ago

    CBSE > Class 12 > Geography
    • 0 answers
    ANSWER

    • Posted by Suhani Sharma 1 year, 4 months ago

    CBSE > Class 12 > English Elective NCERT
    • 0 answers
    ANSWER

    • Posted by Vartika Goyal 1 year, 4 months ago

    CBSE > Class 12 > हिंदी कोर
    • 0 answers
    ANSWER

    • Posted by Rimsha Ansar 1 year, 4 months ago

    CBSE > Class 12 > Accountancy
    • 0 answers
    ANSWER

    myCBSEguide App

    myCBSEguide

    Trusted by 1 Crore+ Students

    Install Now

    Test Generator

    Test Generator

    Create papers online. It's FREE.

    Try Now

    CUET Mock Tests

    CUET Mock Tests

    75,000+ questions to practice only on myCBSEguide app

    Install Now
    Google Play

    Download myCBSEguide App

    All Courses

    Other Websites

    CBSE Courses

    Resources

    Corporate

    NCERT Solutions

    CBSE Sample Papers

    All Content and Intellectual Property is under Copyright Protection | myCBSEguide.com ©2007-2025