NCERT Solutions for Class 12 Accountancy I Chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner – Here are all the NCERT solutions for Class 12 Accountancy I Chapter 3. This solution contains questions, answers, images, explanations of the complete chapter 3 titled Reconstitution of a Partnership Firm – Admission of a Partner taught in Class 12. If you are a student of Class 12 who is using NCERT Textbook to study Accountancy I, then you must come across chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner. After you have studied lesson, you must be looking for answers of its questions. Here you can get complete NCERT Solutions for Class 12 Accountancy I Chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner.
NCERT Solutions Class 12 Accountancy Chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner
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| Class | 12 |
| Subject | Accountancy |
| Book | Accountancy Not For Profit Organisation And Partnership Accounts |
| Chapter Number | 3 |
| Chapter Name |
Reconstitution of a Partnership Firm – Admission of a Partner |
NCERT Solutions Class 12 Accountancy chapter 3 Reconstitution of a Partnership Firm – Admission of a Partner
Class 12, Accountancy chapter 3, Reconstitution of a Partnership Firm – Admission of a Partner solutions are given below in PDF format. You can view them online or download PDF file for future use.
Reconstitution of a Partnership Firm – Admission of a Partner
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Question & Answer
Q.1: A firm’s profits for the last three years are Rs. 5,00,000; Rs. 4,00,000 and Rs. 6,00,000. Calculate value of firm’s goodwill on the basis of four years’ purchase of the average profits for the last three years.
Ans : Missing
Q.2: A firm’s profits for the last five years were Rs. 20,000, Rs. 30,000, Rs. 40,000, Rs. 50,000 and Rs. 60,000. Calculate the value of firm’s goodwill on the basis of three years’ purchase of weighted average profits after using weight of 1,2,3,4 and 5 respectively.
Ans : Missing
Q.3: A firm’s profits during 2013, 2014, 2015 and 2016 were Rs. 16,000; Rs. 20,000; Rs. 24,000 and Rs. 32,000 respectively. The firm has capital investment of Rs. 1,00,000. A fair rate of return on investment is 18% p.a. Compute goodwill based on three years’ purchase of the average super profits for the last four years.
Ans : Missing
Q.4: Based on the data given in the above question, calculate goodwill by capitalisation of super profits method. Will the amount of goodwill be different if it is computed by capitalisation of average profits? Confirm your answer by numerical verification.
Ans : Missing
Q.5: Giri and Shanta are partners in a firm sharing profits equally. They admit Kachroo into partnership who, in addition to capital, brings Rs. 20,000 as goodwill for 1/5th share of profits in the firm. What shall be journal entries if: (a) no goodwill appears in the books of the firm. (b) goodwill appears in the books of the firm at Rs. 40,000.
Ans : Missing
NCERT / CBSE Book for Class 12 Accountancy
You can download the NCERT Book for Class 12 Accountancy in PDF format for free. Otherwise you can also buy it easily online.
- Click here for NCERT Book for Class 12 Accountancy
- Click here to buy NCERT Book for Class 12 Accountancy
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