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Question 02 Chapter 3 of +2-A – T.S. Grewal 12 Class Part – A Vol. 1

Question 02 Chapter 3 of +2-A
Question No.2 - Chapter No.3 - T.S. Grewal +2 Book 2019-Solution

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Question 02 Chapter 3 of +2-A

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2. Profits for the five years ending on 31st March, are as follows: the Year 2015 − 4,00,000; Year 2016 − 3,98,000; Year 2017 − 4,50,000; Year 2018 − 4,45,000 and Year 2019 − 5,00,000. Calculate goodwill of the firm on the basis of 4 years’ purchase of 5 years’ average profit.

The solution of Question 02 Chapter 3 of +2-A:

Average ProfitTotal Profit for past given years
Number of years
Average Profit4,00,000+3,98,000+4,50,000+4,45,000+ 5,00,000
5

 

 21,93,000
5
 =4,38,600

Number of years’ purchase = 4

Goodwill=Average Profit X Number of years’ purchase
Goodwill=4,38,600 X 4
Goodwill=17,54,400

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Also, Check out the solved question of previous Chapters: –

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

  • Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
  • Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
  • Chapter No. 3 – Goodwill: Nature and Valuation
  • Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
  • Chapter No. 5 – Admission of a Partner
  • Chapter No. 6 – Retirement/Death of a Partner
  • Chapter No. 7 – Dissolution of a Partnership Firm

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)

  • Chapter No. 1 – Financial Statements of a Company
  • Chapter No. 2 – Financial Statement Analysis 
  • Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
  • Chapter No. 4 – Accounting Ratios
  • Chapter No. 5 – Cash Flow Statement

 

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

+2 Book 1-min
Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms

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