CUET Accountancy - Ranjan and Anjan were Partners in a firm sharing profits and losses in 3:2. they admitted Sanjan for 1/4 share of profit on 1 Jan 2024. Goodwill of the firm will be valued at 3 years purchase of average profit of last 4 years which were 2024: Rs. 80,000 2023: Rs. 1,40,000. 2022: Rs. 2,00,000 2021: Rs. 1,60,000 The goodwill of the reconstituted firm will be | PYQs + Solutions

CUET Accountancy 2025 3 June Shift 2

Partnership

Easy

common

Rs. 1,45,000

Rs. 4,33,000

Rs. 4,35,000

Rs. 1,35,000

✅ Correct Option: 3

Related questions:

31 May Shift 1

Match List-I with List-II

List-I	List-II
Method of Valuation of Goodwill	Formula
(A) Average profit method	(I) Goodwill = Super profit × No. of years purchased
(B) Super Profit Method	(II) Goodwill = capitalized value of average profit - actual firm's capital.
(C) Capitalization of super profit method	(III) Goodwill = Average Profits × No. of years purchased
(D) Capitalization of average profit method	(IV) Goodwill = (Super profit/ Normal Rate of Return) × 100

Choose the correct answer from the options given below:

3 June Shift 1

The capital of the firm is Rs. 1,00,000 and normal rate of return is 8%. If the average profits for last 5 years are Rs. 12,000 then find goodwill of the firm based on 3 years' purchase of super profits.

22 May Shift 2

As per AS-26 Intangible assets like goodwill should be written off.

CUET Accountancy 2025 3 June Shift 2 PYQs

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