Value of goodwill agreed upon Rs. 30000 on C, S admission and allowing him ¼ share of total profit Goodwill is brought in cash, the amount of goodwill be as:

Related MCQs

• Goodwill of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.
• An incoming partner pays his share of goodwill in cash, and profit sharing ration of old partner is changed, Goodwill be distributed among old partners:
• At the time of admission an incoming partner contributes as goodwill:
• Goodwill is valued as two years purchase of the average profits of three previous years are Rs. 15000, the value of goodwill be:
• If the opening balance of petty cash is Rs 1000, closing balance is Rs 500 and the petty cash received from HO is Rs 700, then what will be the amount of sundry expenses _____
• When good will is brought in cash by new partner, method is known as:
• At the time of admission of a new partner the firm is:
• At the time of admission of a new partner, general reserve is:
• H.O. sent Rs 5000 as petty cash to branch during the year. Opening and closing balances of petty cash was Rs 1400 and Rs 400 respectively. Then petty expenses of the branch during the year will be ______
• When shares are forfeited, the share capital account is debited with ________ and the share forfeiture account is credited with __________.