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The document provides two examples of calculating goodwill. In the first example, the goodwill of a firm with partners sharing profits 3:2 and admitting a new 1/5 partner is ₹220,000. In the second example, the goodwill of a different firm is ₹30,000.
The document also notes that accumulated losses and reserves are shared by old partners in their old profit sharing ratios, and provides journal entries to
Lamar Van Dusen is explaining about the Co-Ownership of Property. He is an accounting professional at Phoenix Management and providing Accounting & Financial Services.
Lamar Van Dusen is explaining about the Co-Ownership of Property. He is an accounting professional at Phoenix Management and providing Accounting & Financial Services.
Goodwill is an intangible asset and valued only when there is a change in business like admission of a partner, retirement of a partner and amalgamation of firms
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This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Goodwill is an intangible asset and valued only when there is a change in business like admission of a partner, retirement of a partner and amalgamation of firms
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Leverage or Solvency ratios can be defined as a type of ratio that is used to evaluate whether a company is solvent and well capable of paying off its debt obligations or not. These ratios are used to measure the long term financial position as a test of solvency of an organisation.
The types of Leverage ratios are: –
Proprietary Ratio or Equity Ratio
Equity to Fixed Asset Ratio
Equity to Current Assets Ratio
Current Liabilities to Shareholders Funds Ratio
Debt Equity Ratio
Capital Gearing or Leverage Ratio
Calculation of Capital Profit, Revenue Profit, Cost of Control, Minority Interest with the preparation of Consolidated Balance sheet for easy understanding
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
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Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
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In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
HIDDEN GOODWILL.pptx
1. HIDDEN GOODWILL
value of good will is determined on the basis of net worth or total capital of the firm
Net worth/ Total capital of firm=capital of new partner x reciprocal of the share of new partner
OR (Assets-Liabilities+ New partner’s capital)
Less: Capital of all partners
2. A & B are partners sharing profits in the ratio of
3:2.Their capitals are 160000 and 100000.They admit
Somesh for 1/5 th share. He brought 120000 as his
capital. Calculate value of goodwill.
• Total capital of firm=capital of new partner X reciprocal of share
= 120000 x 5/1=60000
Less: Capital of all Partners(160000+100000+120000) =380000
VALUE OF GOOD WILL OF THE FIRM= 600000-380000
=220000
3. 34. Total capital of firm=70000 x 4/1=280000
Less: Capital of partners(60000+120000+70000)=250000
Good will=280000-250000
=30000
4. Accounting of Accumulated losses and
reserve
• Accumulated losses and reserve shared by old partners in their old ratio
Journal entry for sharing of accumulated losses
Partners Capital Account Dr
To Profit and loss account’
Journal entry for sharing of reserve
General Reserve account Dr
To Partners Capital account
