Question 5 Chapter 3 of Class 12 Part – 1 VK Publication

Question 5 Chapter 3 of Class 12 Part – 1

5. A partnership firm’s profits for the last five years’ were Rs. 37,000; Rs. 48,000; Rs. 22,000 Rs. 65,000; and Rs. 30,00. Calculate goodwill on the basis of four years’ purchase of weighted average profit using the weights 1,2,3,4 and 5 respectively.

The solution of Question 5 Chapter 3 of Class 12 Part – 1: –

Goodwill = Average Profit x Number of Years’ Purchase = 40,600 x 2 = Rs. 1,63,400.

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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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