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Group 2 accounts
Underwriting was included in unmarked applications.
What was the total liability of underwriters ??
Can you solve that branch question using trading and p/l method??
I have done dat branch question by debtors method �
Branch Profit ₹ 33,600
Question 2) Goodwill was ₹ 18,000,
Fixed Capital 80,000*17.5%=20,000
(-) Normal Profit 14,000
Super Profit 6,000
Goodwill = super profit * No of years of purchase
= 6,000 * 3
= 18,000
goodwill amount Rs. 18000/-
Q.No.1(C ) AnswerRs.10,000/-
and
Remaing Answaers of Paper No.5 of IPCC- Seend very soon .
May be today night or tomorrow
correct of KSP GOODWILL ANSWER
Branch Profit Rs. 33,600/-
Doubl tax refund to be added with income!
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