Distinguish between average profits and super profits. Post category:Accountancy Reading time:1 mins read SOLUTION Average profit is the average of the profits of past few years whereas superprofit is the excess of average profits over normal profits. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostHow does the market situation affect the value of goodwill of a firm? Next PostWhen there is change in the profit-sharing ratio amongst existing partners, does it require adjustment for goodwill? You Might Also Like Inventory turnover ratio of a Company is 5 times. State, giving reason, whether the ratio improves, declines or does not change if goods costing Rs. 20,000 is sold for 18,000. October 3, 2022 X and Y are partners. Y wants to admit his son K into business. Can K become the partner of the firm? Give reason. September 26, 2022 A, B and C were partners sharing profits and losses in the ratio of 2: 2:1. C died on 30th June, 2020. Profit and Sales for the year ended 31st March, 2020 were Rs. 1,00,000 and Rs. 10,00,000 respectively. Sales during April to June, 2020 were Rs. 1,50,000. You are required to calculate share of profit of C till the date of his death. August 5, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Inventory turnover ratio of a Company is 5 times. State, giving reason, whether the ratio improves, declines or does not change if goods costing Rs. 20,000 is sold for 18,000. October 3, 2022
X and Y are partners. Y wants to admit his son K into business. Can K become the partner of the firm? Give reason. September 26, 2022
A, B and C were partners sharing profits and losses in the ratio of 2: 2:1. C died on 30th June, 2020. Profit and Sales for the year ended 31st March, 2020 were Rs. 1,00,000 and Rs. 10,00,000 respectively. Sales during April to June, 2020 were Rs. 1,50,000. You are required to calculate share of profit of C till the date of his death. August 5, 2022