Question : The profits earned by a business over the  last 5 years are as follows:

Rs 24,000, Rs 26,000, Rs 28,000  Rs 36,000 and Rs 4,000 (loss) based on 2 years' purchase of last 5 years' profits. Value of goodwill will be:

Option 1: Rs 47,200

Option 2: Rs 44,000

Option 3: Rs 2,20,000

Option 4: Rs 2,26,000

Question : Profits of last three years are Rs.4,20,000, Rs.3,90,000 and Rs.4,50,000. The value of goodwill on the basis of two years purchase of three year average profit is:

Option 1: Rs.3,60,000

Option 2: Rs.12,60,000

Option 3: Rs.8,40,000

Option 4: Rs.4,20,000

Question : A firm earned average profit of Rs.45.000. Rate of return on capital employed is 12% p.a. Total capital employed is Rs.4,00,000. Goodwill on the basis of two years purchase of super profit is:

Option 1: Rs.6,000

Option 2: Rs.12,000

Option 3: Rs.18,000

Option 4: None of these

Question : At the time of death of a partner investment value Rs 10,000 were sold at Rs 22,000. The revaluation account will be --------

Option 1: Debiting by Rs 22,000

Option 2: Crediting by Rs 12,000

Option 3: Debiting by Rs 12,000

Option 4: None of the above

Question : P, Q and R are three partners sharing profits in the ratio of 3: 2: 1. Goodwill appears in the Balance Sheet at a value of Rs. 60,000. Q retires. P and R decided to share future profits in the ratio of 3: 2, amount payable to Q will be ....

Option 1: Rs.12,000

Option 2: Rs.6,000

Option 3: Rs.18,000

Option 4: Rs.13,333