Balance in the Investment Fluctuation Reserve, after meeting the loss on revaluation of Investments, at the time of admission of a partner will be transferred to:

For computing the Goodwill by capitalisation of average profit method, the following sequence would be followed: (A) Capitalise the average profit on the basis of normal rate of return (B) Ascertain the firm capital = Total Assets - outside liabilities (C) Ascertain the average p…

Calculate the amount of adjusted profit for the year ended 31st March 2021 for the purpose of valuation of Goodwill from the following information: Profit for the year ended 31st March 2021: ₹ 80,000 On 1st July, 2020, a major plant repair was undertaken for ₹10,000 which was cha…

X and Y are partners sharing profits in the ratio of 2:1. They admit Z into the partnership for \(\frac{1}{4}\)th share in profits for which he brings ₹20,000 as his share of capital. Hence, the adjusted capitals of X and Y will be:

A firm earned ₹60,000 as profit, the normal rate of return being 10%. Assets of the firm are ₹ 7,20,000 (excluding goodwill) and Liabilities are ₹2,40,000. Find the value of Goodwill by Capitalisation of Average Profit method.

If Amit, a partner, withdrew ₹10,000 per month in the end, what will be the amount of interest on drawing if it is calculated @ 8% p.a.?

Valuation of Goodwill takes place on which of the following occasions: (A) Incorporation of a new business (B) Change in profit sharing ratio (C) Amalgamation of partnership firms (D) Admission of a partner (E) Dissolution of firm or closure of business Choose the correct answer…

Partners' Current Accounts are opened when their Capital Accounts are:

Following are the factors affecting goodwill except