CUET Accountancy - Determine the value of firm's goodwill by capitalization of the super profit method if the average profits are Rs 1,00,000, super profits are Rs 18,000 and the normal rate of return is 10%. | PYQs + Solutions

CUET Accountancy 2025 14 May Shift 2

Partnership

Easy

Rs 10,00,000

Rs 5,00,000

Rs 1,80,000

Rs 88,000

✅ Correct Option: 3

Related questions:

22 May Shift 1

Which of the following factors affects the value of goodwill?

(A) Location of Business

(B) Partners Performance

(D) Market Situation

Choose the correct answer from the options given below:

27 May Shift 2

Identify the steps involved in calculating goodwill under the capitalized value of average profits method:

(A) Capitalize the average profits on the basis of the normal rate of return to ascertain the capitalized value of average profits

(B) Ascertain the average profits based on the past few years' performance

(D) Ascertain the actual firm's capital (net assets) by deducting outside liabilities from the total assets (excluding goodwill and fictitious assets)

Choose the correct answer from the options given below:

13 May Shift 1

Excess value of net assets over purchase consideration at the time of purchase of business is credited to

CUET Accountancy 2025 14 May Shift 2 PYQs

Keyboard Shortcuts