The amount of goodwill is paid by new partner : Sol:

Related MCQs

• When there is no Goodwill Account in the books and goodwill is raised,…………….account will be debited Sol:
• Goodwill is to be calculated at one and half year’ purchase of average profit of last 5 years. The firm earned profits during 3 years as ₹ 20,000 ₹ 18,000 and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹5,000 in last 2 years. The amount of goodwill will be
• Goodwill is nothing more than probability that the old customer will resort to the old place. This definition of goodwill was given by:
• If a fixed amount is withdrawn on the first day of every month of calendar year by a partner in partnership firm, then for what period the interest on the total amount of drawings will be calculated?
• Goodwill is defined as Sol:
• A firm’s goodwill is not affected by Sol:
• Weighted average method of calculating goodwill is used when Sol:
• Under the capitalisation method, the formula for calculating the goodwill is Sol:
• From the profits of previous three years, Rs 150000, Rs 200000, and Rs250000/- the value of goodwill at five years of purchase is ----------- Sol:
• Goodwill is defined as Sol: