Page 6 - GOODWILL QUESTIONS 1

Question: 22 of 36 QID: 168 Marks: 1

Ravi and Suraj are partners having the profit sharing ratio 3 : 2 in a firm. They admitted Tarun in partnership and new profit sharing ratio of
Ravi, Suraj and Tarun was decided at 2 : 2 : 1 respectively. Tarun brings in Rs.30,000 as goodwill. What would be the share of Ravi in goodwill
?

A. Rs.30,000 B. Rs.18,000

NARULA ACADEMY
C. Rs.6,000 D. None of the above

Question: 23 of 36 QID: 169 Marks: 1

A firm has an average profit of Rs.60,000. Rate of return on Capital employed is Rs.12.5% p.a. Total capital employed in the firm was
Rs.4,00,000. Goodwill on the basis of 2 years purchase of super profits is :

A. Rs.20,000 B. Rs.10,000

C. Rs.15,000 D. None

Question: 24 of 36 QID: 170 Marks: 1

What do you mean by Super Profit ?

A. Total profit/number of years B. Weighted profit/number of years

C. Average profit- Normal profit D. None

Question: 25 of 36 QID: 171 Marks: 1

Rohan and Sohan are partner, in a firm sharing profit and losses in the ratio of 3 : 1, A new partner Mohan is admitted and he brings
Rs.40,000 as goodwill. New profit sharing after admission is equal. The amount of goodwill to be shared by old partners as :-

A. Equally Rs.20,000 each B. Rohan Rs.30,000 and Sohan Rs. 10,000

C. Rohan will receive Rs.50,000 and Sohan will pay to Rohan D. Rohan Rs.40,000 and Sohan Rs. Nil
Rs.10,000

Question: 26 of 36 QID: 172 Marks: 1

The total capital of a partnership firm is Rs.6,00,000 and annual average profits of the firm are Rs.1,50,000. The normal rate of return in the
business is considered at 20%. Find out the value of the goodwill at 3 years purchase of super profit.

A. Rs.60,000 B. Rs.90,000

C. Rs.75,000 D. Rs.50,000

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