2) G, B and V are partners sharing profit and losses equally with a goodwill Rs.1,20,000 shown in the balance sheet & they agreed to take T as an equal partner on the terms that he should bring Rs.1,60,000 as his capital & goodwill ,his share of goodwill was evaluated at Rs.60,000 & the goodwill account is to be written off before admission .What will be the treatment for goodwill ?
4) A & B are sharing profits in the ratio of 3:1 .according to their partnership deed on reconstitution of a firm , 'goodwill is to be valued at two & half year's purchase of the average profit of the last three completed years .The profit were 2001-02 RS.20,000 ; 2002-2003 Rs.30,000 ; 2003-2004 Rs.40,000 ; 2004-2005 Rs.50,000 ; 2005-2006 Rs.60,000 . 'C ' is admitted for 1/5th share in profit on 31st march ,2006 the amount which C will be required to bring by way of his share of goodwill will be
8) A, B & C are partners sharing profit in the ratio of 4:3;2 .D is admitted for 2/9th share of profit & brings Rs.18,000 as his capital & the necessary amount for his share of goodwill. The goodwill of the firm is valued at Rs.2,43,000 .the new profit sharing ratio of A ,B ,C & D will be 3:2:2:2 .the sacrificing partners withdrew half of their share of goodwill .they withdrew
15) A and B are partners with their capital Rs.1,00,000 & Rs.80,000 respectively. they share profit & loss equally .they admitted C & he contributes Rs.50,000 as his capital, nothing in goodwill .goodwill in the B/s Rs.40,000 is revalued as Rs.70,000 .what is the goodwill after C 's admission
20) A and B shares profit and losses equally. They have Rs. 20,000 each as Capital. They admit C as equal partner and Goodwill was valued as Rs.3,000. C is to bring Rs.30,000 as his Capital and necessary cash towards his share of Goodwill. Goodwill A/c will not be remain open in books. If profit on revaluation is Rs. 13,000, find Closing balance of Capital Accounts.
37) A and B are Partners with the Capital Rs.50,000 and Rs.40,000 respectively. They share profits and losses equally. C is admitted on bringing Rs.50,000 as Capital only and nothing was brought against Goodwill. Goodwill appearing in Balance sheet at Rs.10,000 is revalued as Rs. 30,000. What will be value of Goodwill in the books after the admission of C ?
49) R, admitted as a new Partner for 1/4th share of future profits, fails to bring in cash of Rs.5,000 towards Goodwill but the existing (old) Partners S and T, sharing profit in the ratio of 3:2, raise the Goodwill A/c at its full value. Therefore, the Partners will be credited for Goodwill as -
50) R , J & D are partners sharing profit and losses in the ratio 7:5:4. D died on 30.06.2006.It was decided to value the goodwill on the basis of 3 year's purchase of last 5 years avg. profit .if the profits are Rs.29,600:Rs.28,700 ; Rs.28,900 ;Rs.24,000 & Rs.26,800.What will be D's share of goodwill ?
51) If A , B and C are partners sharing profit and losses in the ratio 5:3:2 ,.then on the death of A,how much B & C will pay to A's executer on account of goodwill .Goodwill is to be calculated on the basis of 2 year's purchase of last 3 years avg. profit .if the profits are Rs.3,29,000:Rs.3,46,000 ; Rs.4,05,000
70) The profits of last 5 years Rs.60,000,Rs.67,500,Rs.52,500,Rs.75,000,Rs.60,000.Find the value of goodwill,If it is calculated on average profits of last 5 years on the basis of 3 years of purchase
71) On 1st April,2011 on the admission of a new partner,it is a agreed that goodwill of the firm is valued at 3 years purchase of average profits for the lase 5 years.The profits for last 5 years have been as follows. Year ended Profit/Loss 31-3-2011 16,110 31-03-2012 11,850 31-03-2013 8,145 31-03-2014 (600) 31-03-2015 12,750 value of goodwill will be___
72) On 1st April,2011 on the admission of a new partner,it is a agreed that goodwill of the firm is valued at 2 years purchase of weighted average profits for the lase 3 years.The profits for last 3 years have been as follows. Year ended Profits Weight 31-03-2011 45,000 1 31-03-2012 52,500 2 31-03-2013 72,000 3 Value of goodwill will be_______
75) A firm of X,Y and Z has a total capital investment of Rs.3,60,000.The firm earned net profit during the last year as Rs.56,000,Rs.64,000,Rs 96,000 and Rs.80,000.The fair return on the net capital employed is 15%. Value of goodwill if it is based on 3 year's purchase of the average super profit of past four years.
77) The net profit after tax of Z & Co.for the past 5 years are as follows.Year Profit 2007-2008 2,56,0002008-2009 2,64,0002009-2010 3,76,0002010-2011 4,86,0002011-2012 5,30,500The capital employed is Rs.16,00,000.Rate of normal return is 15%.Calculate the value of the good will on the basis of annuity method on super profit basis,taking the present value of an anuuity of Re.1 for the 4 years at 15% as Rs.2.855.
78) The net profit after tax of NZ&Co. for the past 5 years are as follows Year Profit2010-2011 20,0002011-2012 2,61,0002012-2013 3,12,000Closing stock for 2011-2012 and 2012-2013 includes the defective items of Rs.22,000 and Rs.62,000 respectively which were considered as having no market value.Calculate goodwill on average profit method.
79) From the following information calculate the value of goodwill. The adjusted forecast maintainable profit is Rs.40,000,Capital employed is Rs.2,00,000,Normal rate of return is 15%,Capitalization rate is 20%.
80) The net profits of a business,after providing for income tax for the last 5 years were: Rs.80,000,Rs.1,00,000,Rs.1,20,000,Rs.1,25,000 and Rs.2,00,000 respectively.The capital employed in the business is Rs.10,00,000 and the normal rate of return is 10%.calculate the value of the goodwill on the basis of the annuity method taking the present value of annuity of Re.1 for 5 years at 10% is 3.7907
82) The profit and losses for the last years are: Year Profit 2001-2002 (20,000) 2002-2003 (5,000) 2003-2004 1,96,000 2004-2005 1,52,000 The average capital employed in the business is Rs.4,00,000.The rate of interest expected from capital invested is 12%.The remuneration of partners is estimated to be Rs.2,000 P.m.not charged in the above losses/profit.Calculate the value of good will on the basis of 2 years purchase of super profit based on the average of four years.
