Goodwill In Partnership Accounts Two Marks Question

12th Standard EM

    Reg.No. :
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Accountancy

Time : 00:45:00 Hrs
Total Marks : 20
    10 x 2 = 20
  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 goodwill?

  4. What is super profit?

  5. What is normal rate of return?

  6. What is Annuity?

  7. What is meant by number of years purchase at the time of valuation of goodwill?

  8. Why is goodwill considered as an intangible asset but not a fictitious assets?

  9. How does the factor's 'quality of product' affect the goodwill of a firm?

  10. How does the 'market situation' affect the value of goodwill of a firm?

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