[ISC] Q. 21 Solution of Goodwill TS Grewal ISC 2023-24 Edition
Step-by-step solution of Question 21, Chapter 2 Goodwill: Concepts and Mode of Valuation, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.
Question 21
Varuna and Karuna are partners for equal shares. They admit Lata into partnership for 1/4th share. It was agreed to value goodwill of the firm at 4 years’ purchase of super profit. Normal rate of return is 15% of the capital employed. Average profit of the firm is ₹ 4,00,000. Balance Sheet of the firm as at 31st March, 2023 was as follows: (Balance Sheet total ₹ 19,50,000)
Solution
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About this solution
This is Chapter 2 Goodwill of ISC TS Grewal Edition 2023-24.
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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