Question 6 Chapter 3 – Unimax Class 12 Part 1 – 2021

Question 6 Chapter 3 – Unimax Class 12 Part 1

6. The profits of a firm for the last five years were as follows :

Calculate the value of goodwill as on 1.1.22 on the basis of three years’ purchase of the weighted average profits of last 5 years. Weights 1, 2, 3, 4 and 5 respectively have been given to the profits for the year 2017, 2018, 2019, 2020 and 2021.

The solution of Question 6 Chapter 3 – Unimax Class 12 Part 1:

Average Profits = 348000/15 = Rs. 23200
Goodwill = Rs. 23200 x 3 years
= Rs. 69600

What is Partnership – Meaning and Its 4 Types

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

• Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
• Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
• Chapter No. 3 – Goodwill: Nature and Valuation
• Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
• Chapter No. 5 – Admission of a Partner
• Chapter No. 6 – Retirement/Death of a Partner
• Chapter No. 7 – Dissolution of a Partnership Firm

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 8 – Company Accounts –  Accounting for Share Capital
• Chapter No. 9 – Company Accounts – Issue of Debentures
• Chapter No. 10 – Redemption of Debentures

T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis 
• Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
• Chapter No. 4 – Accounting Ratios
• Chapter No. 5 – Cash Flow Statement

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication