Question

. anil, vimal and sunil are partners sharing profit and losses in the ratio of 3: 2: 1 with
capital respectively of 40.000
; * 40,000 and 20,000. interest on capital is payable
@ 5%. vimal and sunil are entitled to salary of 600 and 400 per month respectively.
during the year 2018. anil, vimal and sunil withdrew respectively 4,000; * 4,000 and
*4.800. the firm showed a profit of 32,000 during the year after charging partners
salaries, but before charging interest on their capitals..

Answer 1

Answer:

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Answer 2

Answer:

Gaining ratio = 2 : 2 = 1 : 1

Explanation:

Calculation of Goodwill (Using Average Profit Method) Average profit =  10000 + 15000 + 20000 3 10000+15000+200003 = 15,000

Goodwill = Average profit x no. of year purchase  15000 x 3 = 45,000 Vimals share of goodwill = 45,000 x  1 5 15= 9000

Gaining ratio = 2 : 2 = 1 : 1

Goodwill is an intangible asset this is associated with the purchase of 1 organization with the aid of any other. particularly, goodwill is the part of the acquisition rate this is better than the sum of the internet fair price of all the belongings purchased in the acquisition and the liabilities assumed inside the method. The cost of a agency’s logo call, stable purchaser base, correct purchaser members of the family, appropriate employee family members, and proprietary era represent a few reasons why goodwill exists.

Goodwill is an intangible asset that debts for the excess purchase rate of another employer.

objects protected in goodwill are proprietary or intellectual property and logo popularity, which are not without problems quantifiable.

Goodwill is calculated via taking the purchase rate of a employer and subtracting the difference among the honest marketplace value of the property and liabilities.

companies are required to study the value of goodwill on their financial statements as a minimum as soon as a year and record any impairments. Goodwill isn't the same as maximum other intangible belongings, having an indefinite life, whilst maximum different intangible property have a finite beneficial existence.

The method for calculating goodwill within reason trustworthy in principle however can be pretty complicated in practice. To decide goodwill in a simplistic formulation, take the purchase charge of a enterprise and subtract the net fair marketplace price of identifiable property and liabilities.

Goodwill = P-(A-L), in which: P = purchase price of the target business enterprise, A = honest market cost of belongings, L = fair marketplace cost of liabilities.

What is Goodwill???​

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anil, vimal and sunil are partners sharing profit and losses in the ratio of 3: 2: 1 with

capital respectively of 40.000

; * 40,000 and 20,000.

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