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Answer



Working Notes: 

1) Calculation of Sudha’s Share of Goodwill
Goodwill of Firm = Average profits x 2 years purchase of average profit
= 42,000 x 2 = 84,000
Sudha’s share of goodwill = 84000 * 3/10 =25,200

 

2) Interest on sudha’s capital = 60000 * 6 /100 * 3/12 = 900 

3) Calculation of Sudha’s Share of profits
If sales = 4,00,000
Profit = 1,00,000 
If sales is 1,  profit = 1,00,000  / 4,00,000
Profit = (1,00,000/4,00,000)  * 1,50,000 = 37,500             
Sudha’s Share = 37500 x 3/10    =  11,250

 

Values Involved in the given scenario:
(1) Sympathy, empathy and helping orphans.
(2) Fulfilment of social responsibility

Q16 P1 Page -

Notes

Calendar

 
 
 
 
 
 

Access Counts

 

Access Counts

 

Like Counts

 

Like Counts

 

Download Counts

 

Download Counts

 

Flag Counts

 

Flag Counts

 

Correct Answer Counts

 

Correct Answer Counts

 

Wrong Answer Counts

 

Wrong Answer Counts

 

Share Counts

 

Share Counts

 

Average Correct Time

 

Average Correct Time

 

Print Count

 

Print Count

 

Bookmark Count

 

Bookmark Count

 



Working Notes: 

1) Calculation of Sudha’s Share of Goodwill
Goodwill of Firm = Average profits x 2 years purchase of average profit
= 42,000 x 2 = 84,000
Sudha’s share of goodwill = 84000 * 3/10 =25,200

 

2) Interest on sudha’s capital = 60000 * 6 /100 * 3/12 = 900 

3) Calculation of Sudha’s Share of profits
If sales = 4,00,000
Profit = 1,00,000 
If sales is 1,  profit = 1,00,000  / 4,00,000
Profit = (1,00,000/4,00,000)  * 1,50,000 = 37,500             
Sudha’s Share = 37500 x 3/10    =  11,250

 

Values Involved in the given scenario:
(1) Sympathy, empathy and helping orphans.
(2) Fulfilment of social responsibility

Q16 P1 Page -

Answer


Working Notes: 

1) Calculation of Sudha’s Share of Goodwill
Goodwill of Firm = Average profits x 2 years purchase of average profit
= 42,000 x 2 = 84,000
Sudha’s share of goodwill = 84000 * 3/10 =25,200

 

2) Interest on sudha’s capital = 60000 * 6 /100 * 3/12 = 900 

3) Calculation of Sudha’s Share of profits
If sales = 4,00,000
Profit = 1,00,000 
If sales is 1,  profit = 1,00,000  / 4,00,000
Profit = (1,00,000/4,00,000)  * 1,50,000 = 37,500             
Sudha’s Share = 37500 x 3/10    =  11,250

 

Values Involved in the given scenario:
(1) Sympathy, empathy and helping orphans.
(2) Fulfilment of social responsibility

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