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Question 16 Chapter 3 of Class 12 Part – 1 VK Publication

Question 16 Chapter 3 of Class 12 Part - 1 VK Publication
Question 16 Chapter 3 of Class 12 Part - 1 VK Publication

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Question 16 Chapter 3 of Class 12 Part – 1

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16. The firm earns a profit of Rs. 20.000 and his invested capital amounts to Rs. 1,50,000. In the Class of business, normal rate of earning is 10%. Calculate goodwill according to capitalisation method.

The solution of Question 16 Chapter 3 of Class 12 Part – 1: –

Average Profit= Rs. 2000

Normal Profit = Capital employedXNormal Rate of Return
100
1,50,000X10
100

= Rs. 15,000

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Super Profit= Average profit – Normal Profit
= 20,000-15,000= Rs. 5,000

Goodwill = Super profitX100
Normal Rate of Return
5,000X100
10

= Rs. 50,000

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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

 

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Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firm

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