DK Goel Solutions Q 6 Chapter 2 Change in Profit Sharing Ratio Class 12 CBSE [2023-24]
Step-by-step solution of Question 6, Chapter 2 Change in Profit-Sharing Ratio Among the Existing Partners, DK Goel Class 12 Accountancy 2023-24 for the CBSE Board.
Question 6
A, B and C are partners sharing profits and losses equally. They agree to admit D for equal share. For this purpose goodwill is to be valued at 3 year’s purchase of average profits of last 5 years which were as follows :
- Year ending on 31st March 2018 — ₹ 60,000 (Profit)
- Year ending on 31st March 2019 — ₹ 1,50,000 (Profit)
- Year ending on 31st March 2020 — ₹ 20,000 (Loss)
- Year ending on 31st March 2021 — ₹ 2,00,000 (Profit)
- Year ending on 31st March 2022 — ₹ 1,85,000 (Profit)
On 1st October, 2021 a computer costing ₹ 40,000 was purchased and debited to office expenses account on which depreciation is to be charged @25% p.a. Calculate the value of goodwill.
Solution
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About this solution
This is Chapter 2 Change in Profit Sharing Ratio of DK Goel For 2024 Examinations.
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.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in the Accountancy Board Exam.
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