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

Question 3 Chapter 3 of Class 12 Part – 1

3. Calculate the amount of goodwill at two years purchase of the average profits of the last three years. The profits earned by the firm in the 1st and 2nd year were Rs. 1,05,275 and Rs. 30,000 respectively but there is a loss in the 3rd year of Rs. 5,000 due to labour strikes.

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

Goodwill = Average Profit x Number of Years’ Purchase = 43,425 x 2 = Rs. 86,8500.

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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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