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12th Standard English Medium Accountancy Subject Goodwill In Partnership Accounts Book Back 2 Mark Questions with Solution Part - II updated Book back Questions Question Bank Software May-13 , 2022

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12th Standard English Medium Accountancy Subject Goodwill In Partnership Accounts Book Back 2 Mark Questions with Solution Part - II updated Book back Questions

12th Standard English Medium Accountancy Subject Goodwill In Partnership Accounts Book Back 2 Mark Questions with Solution Part - II

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10

    Part I

    5 x 2 = 10

  1. From the following information, find out the value of goodwill by capitalisation method:
    (a) Average profit = Rs. 60,000
    (b) Normal rate of return = 10%
    (c) Capital employed = Rs. 4,50,000

  2. From the following information, calculate the value of goodwill on the basis of 3 years purchase of average profits of last four years.

    Year Result Amount
    Rs.
    2015 Profit 5,000
    2016 Profit 8,000
    2017 Loss 3,000
    2018 Profit 6,000

  3. What is acquired goodwill?

  4. What is super profit?

  5. What is normal rate of return?

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