Solution of Q 7 Goodwill TS Grewal 2023-24 [CBSE]
Step-by-step solution of Question 7, Chapter 2 Goodwill: Nature and Valuation, TS Grewal Class 12 Accountancy 2023-24 for the CBSE Board.
Question 7
Tarang purchased Jyoti’s business with effect from 1st April, 2023. Profits shown by Jyoti’s business for the last three financial years ended 31st March, were:
2021 : ₹ 1,00,000 (including an abnormal gain of ₹ 12,500).
2022 : ₹ 1,25,000 (after charging an abnormal loss of ₹ 25,000).
2023 : ₹ 1,12,500 (excluding ₹ 12,500 as insurance premium on firm’s property—now to be insured).
Calculate the value of firm’s goodwill on the basis of two years’ purchase of the average profit of the last three years.
Solution
All questions of Chapter 2
Orange = this question · Grey = already opened.
About this solution
This is Chapter 2 Goodwill – Nature and Valuation of 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 CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
Stuck on this question? Ask Vijay Sir
Be the first to ask on this question.