Solution of Q 9 Goodwill TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 9, Chapter 3 Goodwill: Nature and Valuation, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 9
Tarang purchased Jyoti’s business with effect from 1st April, 2022. Profits shown by Jyoti’s business for the last three financial years ended 31st March, were:
2020 : ₹ 1,00,000 (including an abnormal gain of ₹ 12,500).
2021 : ₹ 1,25,000 (after charging an abnormal loss of ₹ 25,000).
2022 : ₹ 1,12,500 (excluding ₹ 12,500 as insurance premium on firm’s property—now to be insured).
Calculate the value of firm’s goodwill on the basis of two years’ purchase of the average profit of the last three years.
Solution
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About this solution
This is Chapter 3 Goodwill – Nature and Valuation of TS Grewal Edition 2022-23.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
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