CUET Accountancy - Arrange the steps in proper sequence to calculate Goodwill through Super profits Method. (A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return. (B ) Calculate the average profit. (C) Calculate the super profits by deducting normal profit from the average profits. (D) Multiply super profits by the given number of years purchased. Choose the correct answer from the options given below: | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Partnership

Easy

common

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (C), (D)

(B), (A), (D), (C)

✅ Correct Option: 3

Related questions:

4 June Shift 2

A and B are partners sharing profits in the ratio of 2:1. C is admitted into the firm for 1/4 share of profits. C brings in Rs. 20,000 in respect of his capital. The capitals of old partners A and B, after all adjustments relating to goodwill, revaluation of assets and liabilities, etc., are Rs. 45,000 and Rs. 15,000 respectively, It is agreed that partners' capitals should be according to the new profit sharing ratio. A's Capital in the new firm will be:

30 May Shift 2

Which Factor does not Affect the Value of Goodwill-

22 May Shift 2

While doing adjustment of partners capital, for the amount of capital to be brought in by the partner, the following entry will be passed:

CUET Accountancy 2025 22 May Shift 2 PYQs

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