AP EAMCET counselling
Question : P, R and S are in partnership sharing profits 4/8, 3/8 and 1/8 respectively. It is provided under the partnership deed that on the death of any partner his share of goodwill is to be valued at one-half of the net profits credited to his account during the last 4 completed years (books of accounts are closed on 31st March).
R died on 1st April 2018. The firm’s profits for the last 4 years were as follows: 2015 (Profits Rs. 1,20,000); 2016 (Profits Rs.60,000); 2017 (Losses Rs.20,000) and 2018 (Profits Rs. 80,000). Determine the amount that should be credited to R in respect of his share of goodwill.
Option 1: Rs 90,000
Option 2: Rs 30,000
Option 3: Rs 45,000
Option 4: Rs 60,000
Correct Answer: Rs 45,000
Solution : Answer = Rs 45,000
Total Profits = 1,20,000 + 60,000 + (-20,000) + 80,000 = 2,40,000 R's Share of Profit = 2,40,000 * 3/8 = 90,000 Goodwill = 90,000 * 1/2 (50%) = 45000 Hence, the correct option is 3.
Hello,
Candidates have to pay Rs 1200 as AP EAMCET 2022 counselling fee. The amount payable is Rs 600 for candidates belonging to reserved categories. The last date to pay the counselling fee is 30th August. APSCHE will likely start the AP EAMCET 2022 counselling registration from August 22 at sche.ap.gov.in. The AP EAMCET 2022 counselling will be conducted in an online mode. The candidates can pay through online by credit card/ debit card/net banking etc. Keep an eye on the official website or the link below for the latest information.
https://engineering.careers360.com/articles/ap-eamcet-counselling
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