Advertisement

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

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

Advertisement

Question 13 Chapter 3 of Class 12 Part – 1

Advertisement

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

Normal Profit = 20,00,000X10
100

Advertisement-X

= Rs. 2,00,000

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

GoodwillXSuper profit X 100
Normal Rate of Return
GoodwillX1,00,000 X 100
10

= Rs. 10,00,000

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

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

Advertisement-X

 

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

Advertisement

Advertisement

error: Content is protected !!