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Question 1 Chapter 3 – Unimax Class 12 Part 1
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Table of Contents
1. Calculate the value of goodwill as on 1.4.21 if it is to be valued at two years’ purchase of the average profit of last five years. The profits and losses are as follows :
| Year | Profit/Loss (Rs.) |
| 2016-17 | 40000 (Profit) |
| 2017-18 | 60000 (Profit) |
| 2018-19 | 30000 (Profit) |
| 2019-20 | 20000 (Loss) |
| 2020-21 | 10000 (Loss) |
The solution of Question 1 Chapter 3 – Unimax Class 12 Part 1:
| Year | Profits (loss) |
| 2001-02 | 40000 |
| 2002-03 | 60000 |
| 2003-04 | 30000 |
| 2004-05 | (20000) |
| 2005-06 | (10000) |
| Total Net Profits | 100000 |
Average Profits = Rs. 100000/5= Rs. 20000
Goodwill = Rs. 20000 x 2 years = Rs. 40000
What is Partnership – Meaning and Its 4 Types
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
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- 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)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
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