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Varun and Kuber are partners in a busine...

Varun and Kuber are partners in a business. Balance in Capital and Current Accounts on 31st March, 2019 were :
`{:(,"Capital Account","Current Account"),("Varun"," Rs. 5,00,000"," Rs. 80,000"),("Kuber"," Rs. 3,50,000"," Rs. 20,000 (Dr.)"):}`
Profits of the last five consecutive years ending 31st March were : 2015 Rs. 60,000, 2016 Loss Rs. 40,000, 2017 Rs. 1,30,000, 2018 Rs. 2,00,000 and 2019 Rs. 2,50,000.
General Reserve appeared in the books at Rs. 50,000.
If the normal rate of return is 10%, find the value of goodwill by Capitalisation of Average Profit Method.

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Bharat and Bhushan are partners in a retail business. Balances in Capital and Current Accounts as on 31st March, 2019 were: {:(,"Capital Account", "Current Account"),("Bharat","Rs. 2,00,000","Rs. 50,000"),("Bhushan","RS. 2,40,000","Rs. 10,000(Dr.)"):} The firm earned an average profit of Rs. 90,000. If the normal rate of return is 10% find the value of goodwill.

Profit for the five years ending on 31st March, are as follows: Year 2015 -Rs. 4,00,000, year 2016 - Rs. 3,98,000, Year 2017 - Rs. 4,50,000, Year 2018 - Rs. 4,45,000 and Year 2019 - Rs. 5,00,000. Calculate goodwill of the firm on the basis of 4 years' purchase of 5 years' average Profit.

Anupma, Purnima and Ruchika are partners in a business. Balances in their Capital and Current Account as on 31st March, 2019 were : {:(,"Capital Account (Rs.)","Current Account (Rs.)"),("Anupma"," 6,00,000"," 60,000 (Dr.)"),("Purnima"," 5,00,000"," 30,000 (Dr.)"),("Ruchika"," 5,00,000"," 10,000 (Cr.)"):} The firm earned an average profit of Rs. 2,40,000. If the normal rate of return is 12%, find the value of goodwill by Capitalisation of Average Profit Method.

From the following particulars, calculate value of goodwill of a firm by applying Capitalisation of Average Profit Mehod: (i) Profits of last five consecutive years ending 31st March are: 2019 - Rs. 54,000, 2018 - Rs. 42,000, 2017 - Rs. 39,000, 2016 - Rs. 67,000 and 2015 - Rs. 59,000. (ii) Capitalisation rate 20% . (iii) Net assets of the firm Rs. 2,00,000.

Goodwill is to be valued at three years' purchase of four years' average profit. Profits for last four years ending on 31st March of the firm were: 2016 - Rs. 12,000, 2017 - Rs. 18,000, 2018 - Rs. 16,000, 2019 - Rs. 14,000. Calculate ammount of Goodwill.

Calculate the value of goodwill as on 1st April, 2015, on the basis of 2(1)/(2) year's purchase of the average profits of the last five years. The profits and losses for the years ending 31st March were : 2010 Rs. 80,000, 2011 Rs. 1,00,000, 2012 Loss Rs. 30,000, 2013 Rs. 1,70,000, 2014 Rs. 1,60,000 and 2015 Rs. 1,80,000. You are informed that the profits of the year ending 31st March 2014 included profit on sale of a fixed asset amounting to Rs. 50,000 and the profits for the year 2015 were effected by a loss due to fire amounting to Rs. 20,000.

Following are the Ledger balances on 31st March, 2019: Building Rs. 5,00,000, Furniture Rs. 2,00,000, Debtors Rs. 1,00,000, Creditors Rs. 80,000, Bank Overdarft Rs. 40,000, Capital Rs. 7,30,000, and Cash Rs. 50,000. Journalise the above to open the accounts in the books of account for the financial year 2019-20.

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