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Solution of Q 39 Goodwill TS Grewal 2022-23 [CBSE]

Question 39 of 39Chapter 3Class 12 · CBSE✍ Vijay Adarsh

Step-by-step solution of Question 39, Chapter 3 Goodwill: Nature and Valuation, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.

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Question 39

From the following information, calculate value of goodwill of the firm:

  1. (i) At three years’ purchase of Average Profit.
  2. (ii) At three years’ purchase of Super Profit.
  3. (iii) On the basis of Capitalisation of Super Profit.
  4. (iv) On the basis of Capitalisation of Average Profit.

Information:

  1. (a) Average Capital Employed is ₹ 6,00,000.
  2. (b) Net Profit/(Loss) of the firm for the last three years ended are: 31st March, 2022—₹ 2,00,000, 31st March, 2021—₹ 1,80,000, and 31st March, 2020—₹ 1,60,000.
  3. (c) Normal Rate of Return in similar business is 10%.
  4. (d) Remuneration of ₹ 1,00,000 to partners is to be taken as charge against profit.
  5. (e) Assets of the firm (excluding goodwill, fictitious assets and non-trade investments) is ₹ 7,00,000 whereas Partners’ Capital is ₹ 6,00,000 and Outside Liabilities ₹ 1,00,000.
TS Grewal Class 12 Goodwill Question 39

Solution

Solution of Q 39 Goodwill TS Grewal 2022-23 part 1
Solution of Q 39 Goodwill TS Grewal 2022-23 part 2
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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.

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