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Q.No.38 | Chapter 3 – Goodwill: Nature and Valuation | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

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Focus Topic:Q.No.38 | Chapter 3 – Goodwill: Nature and Valuation | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

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Question 38 Chapter 3 of +2-A

38. A business has earned average profit of 1,00,000 during the last few years. Find out the value of goodwill by capitalisation method, given that the assets of the business are 10,00,000 and its external liabilities are 1,80,000. The normal rate of return is 10%.

The solution of Question 38 Chapter 3 of +2-A:

Capitalized Value of Profit	=	Profit X 100
		Normal Rate of Return

=	1,00,000X 100
=	10
=	10,00,000

Actual Capital	=	Total Assets - Outsider Liabilities
	=	10,00,000 - 1,80,000
	=	8,20,000

Goodwill	=	Capitalized value of Profit - Actual Capital
	=	10,00,000 - 8,20,000
	=	1,80,000

Q.No.38 | Chapter 3 – Goodwill: Nature and Valuation | T.S. Grewal 12 Class Book Keeping Part - A - Vol. 1

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The solution of Question 38 Chapter 3 of +2-A:

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Sarbjit SinghB.Com and M.Com

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