# Question 25 Chapter 3 of Class 12 Part – 1 Usha Publication

Question 25 Chapter 3 of Class 12 Part – 1 Usha Publication

25. (Average Profits Method/When profits are given) B and C agree to value goodwill at three years purchase of the average profits of the last five years for admitting A as a partner. Profits of the last five years were ₹ 20,000 ; ₹ 15,000 ; ₹ 17,000 ; ₹ 23,000 and ₹ 18,000. Calculate the amount of goodwill.

## The solution of Question 25 Chapter 3 of Class 12 Part – 1 Usha Publication: –

Day - 54 | Questions of Goodwill Ch. 3 Partnership - II | Accounts class 12 | PSEB | Sarbjit Singh |

 Year Profit 1st 20,000 2nd 15,000 3rd 17,000 4th 23,000 5th 18,000 Total 93,000
 = 93,000 5 = 18,600
 Capitalised value of the Goodwill = Average adjusted Profits x Number of years’ purchase = 18,600 x 3 = 55,800

Comment if you have any questions.

Comment if you have any questions.

End of Solution

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## Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)

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)

## Check out Part 2 of both books.

In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 2, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 2 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.

1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication

2. Advanced Accountancy Part 2 Class 12 by Unimax Publication