Mohit and Rohan share profits and losses in the ratio of 3:1. They admit Rahul and Meena as partners with 1/4 share each in the profits with a guarantee that Rahul's share of profit shall be at least Rs. 60,000. Any deficiency in the share will be borne by Mohit and Rohan in their profit sharing ratio. The net profit of the firm for the year ending March 31, 2025 was Rs. 2,00,000. Find the share in deficiency borne by Mohit.

The goodwill based on capitalization of average profit method is valued at Rs 1,80,000. If Net Assets are Rs 8,20,000 then find the capitalized value of average profits.

Kapil, Rahul and Virat are partners in a firm sharing profits in the ratio of 3:2:1. They decide to share future profits equally w.e.f April 1, 2025. Calculate the gaining/sacrificing share of partners.

The important methods of valuation of goodwill are as follows:

(A) Average Profits Method

(B) Normal Profits Method

(C) Super Profits Method

(D) Capitalization Method

Choose the correct answer from the options given below:

Under which method No. of Year's Purchase are not considered

Identify the factor affecting value of goodwill highlighted in the following statement

"The monopoly condition or limited competition enables the concern to earn high profits which leads to higher value of goodwill."

Harish and Munish are partners in a firm sharing profits and losses in the ratio of 3:2. Rakesh is admitted into partnership for 1/3 share in profits. He brings in Rs. 50,000 as capital, but not in a position to bring any amount for his share of goodwill which has been valued at Rs. 15,000. Give necessary journal entry for recording goodwill, when there is no goodwill appearing in the books of the firm.