CUET Accountancy - The profits of the firm for the five years are as follows: | Year | Profit (Rs.) | |---|---| | 2012-13 | 20,000 | | 2013-14 | 24,000 | | 2014-15 | 30,000 | | 2015-16 | 25,000 | | 2016-17 | 18,000 | Calculate the value of goodwill on the basis of three years' purchase of weighted average profits based on weights of the last five years as 1,2,3,4 and 5 respectively. | PYQs + Solutions

CUET Accountancy 2025 3 June Shift 1

Partnership

Medium

common

Rs. 79,600

Rs. 60,500

Rs. 80,600

Rs. 69,600

✅ Correct Option: 4

Related questions:

24 May Shift 1

Arjun and Vaibhav are partners sharing profits in the ratio of 3:2. They admitted Rahul as a new partner for 1/5 share in the future profits of the firm. The new partner acquired his share from the old partners in the old ratio. Calculate the new profit sharing ratio of Arjun, Vaibhav and Rahul.

15 May Shift 1

The steps involved in calculation of Goodwill under Super Profit method are:

(A) Calculate the super profits by deducting normal profit from the average profits.

(B) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

(D) Calculate goodwill by multiplying the super profits by the given number of years' purchase.

Choose the correct sequence of steps from the options given below:

29 May Shift 2

Kim and Sim are partners in a firm sharing profits in 4:3 ratio. They admitted Pim as a new partner for 1/4 share in the profits, which he acquired in the ratio of 3:2 from Kim and Sim. Determine the new profit sharing ratio of the partners.

CUET Accountancy 2025 3 June Shift 1 PYQs

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