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

Question 12 Chapter 3 of Class 12 Part – 1

12. A business has earned an average profit of Rs. 50,000 and the normal rate of return is 10%. Find out the goodwill by capitalisation of average profit method assuming that the business Owns total assets of Rs. 5,00,000 and external liabilities worth Rs. 1,00,000.

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

12. Capital Employed or Net Asset of the firm= Total Assets – External Liability

= 5,00,000-1,00,000 = Rs. 4,00,000

= Rs.5,00,000

Goodwill= Capitalised value of the Firm – Capital Employed
= 5,00,000-4,00,000 = Rs. 1,00,000

Thanks, Please Like and share with your friends  

Comment if you have any questions.

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

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