Question 1 Chapter 3 of Class 12 Part – 1 VK Publication

Question 1 Chapter 3 of Class 12 Part – 1

1. Calculate the amount of goodwill at three years’ purchase of the last four years average
profits. The profits and losses tor the last four years were: 1st year Rs. 5,000; 2nd year Rs. 8,000 3rd year (Loss) Rs. 3,000 and 4th year Rs. 6,000.

The solution of Question 1 Chapter 3 of Class 12 Part – 1: –

Goodwill = Average Profit x Number of Years’ Purchase
= 4,000 x 3 = Rs. 12,000.

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

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

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

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