Question : H and S share Profit & Loss equally. Their capitals were Rs.1,20,000 and Rs. 80,000 respectively. There was also a balance of Rs. 30,000 in General reserve and revaluation  loss  amounted to Rs. 15,000. They admit friend T with 1/5 share. T brings Rs.90,000 as capital. Calculate the amount of goodwill of the firm.

Option 1: Rs. 85,000

Option 2: Rs. 1,45,000 

Option 3: Rs. 20,000

Option 4: None of the above 

Question : The profits of the firm for five years were agreed at Rs.40,000; Rs.60,000; Rs. 30,000 (loss); Rs.10,000 (loss); and Rs.90,000 respectively.
Q. Average profit is Rs ---

Option 1: Rs.30,000

Option 2: Rs.1,50,000

Option 3: Rs.40,000

Option 4: Rs.1,00,000

Question : If opening capitals of partner are A Rs.3,00,000, B Rs.2,00,000 & C Rs.1,00,000 and their drawing during the year is Rs. 50,000, Rs.40,000 and Rs.30,000 respectively and debtors are Rs.60,000. What will be the amount of assets of the firm?

Option 1: Rs.4,20,000

Option 2: Rs.4,80,000

Option 3: Rs.5,40,000

Option 4: Rs.6,60,000

Question : Mohit and Rohit were partners in a firm with the capitals of Rs.80,000 and Rs.40,000 respectively. The firm earned a profit of Rs.30,000 during the year. Mohit's share in the profit will be:

Option 1: Rs.20,000

Option 2: Rs.10,000

Option 3: Rs.15,000

Option 4: Rs.18,000

Question : Equity Share Capital Rs.1,00,000

8% Preference Share Capital Rs.40,000

Reserves and Surplus Rs.60,000

Investments Rs.30,000

Current Assets Rs.70,000

Proprietary Ratio is 0.8: 1

Calculate the value of the fixed assets of the company.

Option 1: Rs. 1,50,000

Option 2: Rs. 2,50,000

Option 3: Rs. 2,00,000

Option 4: Rs. 3,00,000