Question 13 Chapter 3 of Class 12 Part – 1 VK Publication

Question 13 Chapter 3 of Class 12 Part – 1

13. Average profit of the firm is Rs. 3,00,000. Total assets of the firm are Rs. 28,00,000 and outside liabilities are Rs. 8,00,000. In the same type of business, the normal rate of return is 10% of the capital employed. Calculate value of goodwill by Capitalisation of Super Profit Method.

The solution of Question 13 Chapter 3 of Class 12 Part – 1: –

13. Capital Employed = Total Assets – External Liability

= 28,00,000-8,00,000 = Rs. 20,00,000

= Rs. 2,00,000

Super Profit= Average profit- Normal Profit
= 3,00,000-2,00,000= Rs. 1,00,000

= Rs. 10,00,000

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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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