Partnership
This query is : Resolved
06 May 2010
The profits for 1999-98 are Rs.2000;for 1999-2000 is Rs.26100;and for 2000-01 is Rs.31200.Closing stock for 1999-2000 and 2000-01 includes the defective items of Rs.2,200 and 6,200 respectively which were considered as having market value nil.wat would be the good will on average profit method?
06 May 2010
Year Net profit defective items in Cl stock Adj net profit
1998-1999 2,000.00 2,000.00
1999-2000 26,100.00 2,200.00 23,900.00
2000-01 31,200.00 4,000.00 27,200.00(6200-2200of the year 1999-2000)
Total Profit 53,100.00
Ave profit 17,700.00
1998-1999 2,000.00 2,000.00
1999-2000 26,100.00 2,200.00 23,900.00
2000-01 31,200.00 4,000.00 27,200.00(6200-2200of the year 1999-2000)
Total Profit 53,100.00
Ave profit 17,700.00
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
