Question 15 Chapter 3 of Class 12 Part – 1 VK Publication

Question 15 Chapter 3 of Class 12 Part – 1

15. The assets of a firm are Rs. 26,000 and liabilities other than capital are Rs. 6,000. The normal rate of profit in this type of business is 12½% whereas the firm earns a profit of Rs. 8,400. Calculate the amount of goodwill according to capitalisation method.

The solution of Question 15 Chapter 3 of Class 12 Part – 1: –

Average Profit= Rs. 8,400
Capital Employed= Total Assets – External Liabilities
= 26,000-6,000 = Rs. 20,000

= Rs. 2,500

Super Profit= Average profit – Normal Profit
= 8,400-2,500= Rs. 5,900

= Rs. 47,200

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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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