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 charged to revenue. The said sum is to be capitalised for Goodwill valuation subject to adjustment of depreciation @ 10% p.a. on reducing balance method.

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:

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.

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…

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…

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:

Following are the factors affecting goodwill except

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.?

In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the: