Goodwill of the firm was valued at ₹6,00,000 being valued at 3 years purchase of super profits. If Normal rate of return was 10% and actual profits amounted to ₹3,50,000. Determine Capital Employed.

Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm?

The adjustment required for overvaluation of closing stock, while calculating adjusted profit for calculating goodwill is
(A) reduction from concerned year's profit.
(B) reduction from next year's profit.
(C) addition to next year's profit.
(D) addition to previous year's profit.
Choose the correct answer from the options given below:

A, B and C are partners sharing profits in the ratio of 3:3:4. They decide to share the future profits equally. The sacrifice or gain of partners are:

Which of the given transactions are to be transferred to Revaluation Account
A. Stock was overvalued by 20%
B. General reserve appearing in Books ₹2,00,000
C. Goodwill valued at ₹1,50,000
D. Worker's claim of ₹20,000, when there was no workmen Compensation fund
E. Goodwill appearing in the books ₹1,00,000
Choose the correct answer from the options given below:

State the order of steps required for valuation of goodwill using weighted Average Profit method.
A. Assign weights to each year’s profit/loss
B. Multiply weighted average Profit with number of years purchase
C. Find goodwill
D. Calculate adjusted profit
E. Calculate weighted average profit
Choose the correct answer from the options given below:

Goodwill of the firm was valued at ₹7,20,000 being valued on the basis of 4 years purchase of super profit of the firm. Capital employed of the firm was ₹25,00,000 and firm made profit of ₹4,80,000. Determine normal rate of return.

Identify the factor that does not affect the value of goodwill of a partnership firm.

Select the Factors affecting the value of goodwill of a firm from the following.
(A) Financial Soundness of Employees employed in the organisation.
(B) Nature of business affects Goodwill of a firm.
(C) Centrally located business enjoy more Goodwill.
(D) Limited Competition help firm to earn more and thus their goodwill will be high.
(E) Efficiency of Management has no direct influence on Goodwill of a firm.
Choose the correct answer from the options given below :

Profits earned by the business during the last 5 years were :
2018 – ₹12,000
2019 – ₹13,000
2020 – ₹14,000
2021 – ₹18,000
2022 – ₹(2,000)
Calculate the amount of goodwill to be valued at 2 yeas purchase of average profits of last 5 years.

Which of the following would affect the Revaluation Account at the time of reconstitution of a partnership firm?