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1.Sushila's business disclosed the following profits for last two years:

2008        Rs. 40,000(including an abnormal gain of Rs 5000)

2009        Rs. 50,000(After charging an abbormal loss of Rs. 10,000)

The Value of Goodwill on the basis of one year purchase of the average profit of last two years is

 

 

2.Books of Ekta, shows on 1st January 2006 furniture Rs. 20,000. During the year a part of the

furniture whose book value on 1st January 2006 is Rs. 1,200 has been exchanged with another

furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount

of the furniture to be shown in the balance sheet will be

(a) Rs 18,508 (b) Rs 20,440

(c) Rs 18,396 (d) Rs 18,478

Replies (18)
1.45000 2. tell u in a minute
Originally posted by : Vijay Manwani
1.45000

2. tell u in a minute

Ans given is 47500

It will be 18475 i think coz the additinal furniture purchase date is not given so assumed to be middle date & half depri
Let me calculate just roughly said Year1 40-5=35000 Year2 50+10=60000 So G/W=95000/2=47500 Sorry bro

For Q 2

Ans is D - 18,478

Originally posted by : Vijay Manwani
Let me calculate just roughly said
Year1 40-5=35000
Year2 50+10=60000
So G/W=95000/2=47500
Sorry bro
 

Ans is 47500 How did u get??

Thanx A Lot

it would be 47500

1st year normal profit 40000- 5000(abnormal gain)

2nd year normal profit 50000+ 10000(abnormal loss)

average profit 47500

goodwill 47500

answer :

1) the question asked is only avg profit not normal profit.so do avg  calculatio on the given amount answer is 

45000

2) dep is to be charged 10% on ( 20000+500=20500)=2050 i.e 20500-2050=18450

Ans for 2nd Question wil be 18475, I think its a misprint

@ abhishek. in case goodwill is to be calculated avg. profit mean avg, normal profit
Post ur queries in ask any query sunshine & it will be resolved more quickly

ans for q2 is cost=20000 dep for first 6 mnts

20000*10%*6/12 = 1000

for next 6 mnts

19300*10%*6/12 = 965

total dep 1965

cost of machine 20500-1965=18535

sry if its wrong

ans for q2 is cost=20000 dep for first 6 mnts

20000*10%*6/12 = 1000

for next 6 mnts

19300*10%*6/12 = 965

total dep 1965

cost of machine 20500-1965=18535

sry if its wrong

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