What is meant by Super Profits? Post category:Accountancy Reading time:1 mins read SOLUTION Super Profit is the excess of actual 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 PostName any two factors affecting goodwill of a partnership firm. Next PostHow the goodwill is valued under the super profit’s method? You Might Also Like Rachit, Shekhar and Tarun were partners sharing profits in the ratio of 2: 3: 4. Shekhar retired on 1st April, 2018 on which date the Balance Sheet of the firm showed the following position: (i) Investments (Market Value 2,60,000) 3,00,000; (ii) Investment Fluctuation Reserve 1,30,000 Shekhar was of the opinion that Rs. 1,30,000 should be credited to the Capital accounts of all the partners in their profit-sharing ratio whereas Rachit and Tarun were of the opinion that Rs. 90,000 instead of Rs. 1,30,000 should be credited to the Capital accounts of all the partners to which Shekhar ultimately agreed. Explain what argument must have been put forward by Rachit and Tarun that convinced Shekhar September 27, 2022 S, T and U were partners in a firm. They admitted V as anew partner. S and T sacrificed 1 / 3rd and 1 / 4th of their share respectively in favour of V. Calculate the new profit-sharing ratio of S, T, U and V. (C.B.S.E. 2019, Chennai) September 27, 2022 State the provisions of the Indian Partnership Act., 1932, regarding charging of interest on drawings from a partner when: (a) The firm has a partnership deed; (b) The firm does not have a partnership deed. September 26, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Rachit, Shekhar and Tarun were partners sharing profits in the ratio of 2: 3: 4. Shekhar retired on 1st April, 2018 on which date the Balance Sheet of the firm showed the following position: (i) Investments (Market Value 2,60,000) 3,00,000; (ii) Investment Fluctuation Reserve 1,30,000 Shekhar was of the opinion that Rs. 1,30,000 should be credited to the Capital accounts of all the partners in their profit-sharing ratio whereas Rachit and Tarun were of the opinion that Rs. 90,000 instead of Rs. 1,30,000 should be credited to the Capital accounts of all the partners to which Shekhar ultimately agreed. Explain what argument must have been put forward by Rachit and Tarun that convinced Shekhar September 27, 2022
S, T and U were partners in a firm. They admitted V as anew partner. S and T sacrificed 1 / 3rd and 1 / 4th of their share respectively in favour of V. Calculate the new profit-sharing ratio of S, T, U and V. (C.B.S.E. 2019, Chennai) September 27, 2022
State the provisions of the Indian Partnership Act., 1932, regarding charging of interest on drawings from a partner when: (a) The firm has a partnership deed; (b) The firm does not have a partnership deed. September 26, 2022