Solution of Q 20 Goodwill TS Grewal 2022-23 [CBSE]
Step-by-step solution of Question 20, Chapter 3 Goodwill: Nature and Valuation, TS Grewal Class 12 Accountancy 2022-23 for the CBSE Board.
Question 20
A partnership firm earned net profits during the last three years ended 31st March, as follows:
2020—₹ 17,000; 2021—₹ 20,000; 2022—₹ 23,000.
Capital investment in the firm throughout the above-mentioned period has been ₹ 80,000. Having regard to the risk involved, 15% is considered to be a fair return on the capital. Calculate value of goodwill on the basis of two years’ purchase of average super profit earned during the above-mentioned 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.
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 Accountancy Board Exam.
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