harish ragav (student-IPCC) (407 Points)
08 February 2013Hi Guys, All the Best for CPT June 2013. Please Post all your Accounts doubts here, If we maintain a Single Thread for all Doubts, it will help others also to get all the doubts/Questions/Clarification regd Accounts in a Single Place.
Please dont Create Separate thread for new Questions. . .
Rama krishnan
(CPT)
(56 Points)
Replied 08 February 2013
P sent out goods costing Rs 45000 to Y at cost +33.33.1/10th of the goods were lost in transit.2/3rd of the goods recceived are sold at 20 % above invoice price. the amount of sale value will be?
Rama krishnan
(CPT)
(56 Points)
Replied 09 February 2013
D and G are partners in the firm with the capital of 500000 each. they admid H as partner with 1/4 th share in the profits of the firm. H brought rs 800000 as his share of capital.the total capital of te firm after H's admission will be 2000000.....the amount of hidden goodwill brought by H will be?
pls ans and explain......
Jag Bhushan Sharma
(Faculty in a B-School)
(633 Points)
Replied 10 February 2013
invoice price = (45000 + 15000) 60000
Good lost in transit (6000)
Goods received 54000
Cost of Goods sold 54000 x 2/3 = 36000
Sales value (36000 x 1.2) 43200
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pratik singhal
(z)
(276 Points)
Replied 20 March 2013
Srinivasan M
(Professiona)
(46 Points)
Replied 21 March 2013
Initial Capital (D and G) :500000
Profit of firm is(4 X 800000) :3200000(1/4 th share of profit, H is admitted who bought 800000)
Now the Capital is 200000
So difference is (3200000+500000) -2000000= (1700000/4)=425000
425000 is the hidden goodwill bought by H
Please clarify the solution and suggest me if there is any wrong step
Srinivasan M
(Professiona)
(46 Points)
Replied 21 March 2013
Initial Capital (D and G) :500000
Profit of firm is(4 X 800000) :3200000(1/4 th share of profit, H is admitted who bought 800000)
Now the Capital is 200000
So difference is (3200000+500000) -2000000= (1700000/4)=425000
425000 is the hidden goodwill bought by H
Please clarify the solution and suggest me if there is any wrong step
CAclubindia
