CUET Accountancy - A and B are partners sharing profits equally with capitals of Rs 45,000 each. They admitted C as a new partner for 1/3rd share in the profit. C bring Rs 60,000 as his capital. Find the goodwill of the firm. | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 1

Partnership

Medium

common

Rs 1,80,000

Rs 1,50,000

Rs 90,000

Rs 30,000

✅ Correct Option: 4

Related questions:

27 May Shift 2

Identify the steps involved in calculating goodwill under the capitalization of super profits method:

(A) Calculate capital of the firm, which is equal to total assets (excluding goodwill and fictitious assets) minus outside liabilities

(B) Multiply the super profits by the required rate of return multiplier

(D) Calculate super profits by deducting normal profits from average profits

(E) Calculate average profit for past years

Choose the correct answer from the options given below:

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If there is no claim against Workmen Compensation Reserve, it is __________ at the time of admission of a partner.

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X, Y and Z are partners in a firm. If M is admitted as a new partner, what would be its implication?

CUET Accountancy 2025 22 May Shift 1 PYQs