CUET Accountancy - The profits for the five years of a firm are as follows – year 2013 Rs. 4,00,000;year 2014 Rs. 3,98,000; year 2015 Rs. 4,50,000; year 2016 Rs. 4,45,000 and year 2017 Rs. 5,00,000. Calculate the goodwill of the firm on the basis of a 4-year purchase of 5 years average profits: | PYQs + Solutions

CUET Accountancy 2025 30 May Shift 1

Partnership

Easy

common

Rs 16,54,400

Rs 17,54,400

Rs 18,54,400

Rs 17,00,400

✅ Correct Option: 2

Related questions:

15 May Shift 1

Arrange the following regarding admission procedure in the correct sequence.

(A) Giving share to the new partner.

(B) Treatment of Goodwill

(D) Preparation of Revaluation A/c

(E) Preparing Partner's Capital A/c and Balance Sheet

Choose the correct answer from the options given below:

15 May Shift 2

If a new partner does not bring his share of goodwill in cash, the following treatment shall be made

2 June Shift 2

For the right to get a share in future profits of a partnership firm, a newly admitted partner will have to bring :-

CUET Accountancy 2025 30 May Shift 1 PYQs