Arrange the following steps related to valuation of goodwill by Capitalisation of Average Profits method.

(A) Deducting net assets from the capitalised value of average profit.

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

(C) Capitalize the average profit on the basis of the normal rate of return to ascertain the capitalised value of average profits.

(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:

Krishna, Sandeep and Karim are partners sharing profits in the ratio of 3:2:1. Their fixed capitals are: Krishna Rs. 1,20,000, Sandeep 90,000 and Karim 60,000. For the year 2024-25, interest was credited to them at @ 8% p.a. instead of 5% p.a. Find the amount transferred from Karim to Krishna's current account as an adjustment.

As per _____________. Purchased goodwill may be accounted for in the books and shown as an asset but self-generated goodwill is not accounted for in the books.

Calculate interest on drawing if Ram withdrew Rs. 3,000 per month at the beginning of each month for the whole year, if interest on drawing is charged @ 9 % per annum.

Reconstitution of partnership does not involves

Which of the following is not a features of partnership:

In the Proforma of Partner's Capital Account under the Fluctuating capital Method, the Credit side includes the following items:

(A) Balance b/d (in case of credit opening balance)

(B) Salaries

(C) Interest on drawings

(D) Profit and Loss Appropriation (for share of profit)

Choose the correct answer from the options given below: