List the various methods of determining goodwill, Financial Accounting

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Question 1 Explain the five accounting concepts with an example

  • Separate entity concept
  • Going concern concept
  • Money measurement concept
  • Cost concept
  • Dual aspect concept

 

Question 2 What steps are involved in the productivity factor based valuation?

Question 3 List the various methods of determining goodwill

Question 4 State the manner of rendering accounting entries for ‘liquidation expenses'in case of a vendor company. LT Ltd.went into liquidation with the following liabilities

Secured creditors              - Rs 40,000(Securities realised Rs 50,000)
Preferential creditors         - 1200
Unsecured creditors          - 61000
Liquidation expenses         - 500


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