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[ISC] Q. 34 Solution of Goodwill TS Grewal ISC 2023-24 Edition

Question 34 of 36Chapter 2Class 12 · ISC✍ Vijay Adarsh

Step-by-step solution of Question 34, Chapter 2 Goodwill: Concepts and Mode of Valuation, TS Grewal Class 12 Accountancy 2023-24 for the ISC Board.

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Question 34

Ajeet and Baljeet are partners in a firm. Their capitals are ₹ 9,00,000 and ₹ 6,00,000 respectively. During the year ended 31st March, 2023 the firm earned a profit of ₹ 4,50,000. Assuming that the normal rate of return is 20%, calculate value of goodwill of the firm:

  1. (i) By Capitalisation Method; and
  2. (ii) By Super Profit Method if the goodwill is valued at 2 years’ purchase of Super Profit.
TS Grewal Class 12 Goodwill Question 34

Solution

Solution of Q 34 Goodwill TS Grewal 2023-24 part 1
Solution of Q 34 Goodwill TS Grewal 2023-24 part 2
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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.

Also, we have followed the proper format and workings which are required as per Guidelines Issued by the ISC Council. Just follow our presentation of solutions and score good marks in Accountancy Exam.

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