# Question 26 Chapter 3 of Class 12 Part – 1 Usha Publication

Question 26 Chapter 3 of Class 12 Part – 1 Usha Publication

26. (Capitalisation of S.P./S.P. Method) A business has earned average profits of ₹ 1,00,000 during the last few years and the normal rate of return in similar business is 10%. Find out the value of goodwill by
(i)Capitalisation of super profit method
(ii) Super profit method if the goodwill is valued at 3 year’s purchase of super profit. The asset of the business were ₹ 10,00,000 and its external liabilities ₹ 1,80,000.

## The solution of Question 26 Chapter 3 of Class 12 Part – 1 Usha Publication: –

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

 Capital Employed = Total Assets – Liabilities = 10,00,000 – 1,80,000 = 8,20,000
 Normal Profit = Capital Employed X Normal Rate of Return 100 = 8,20,000 X 10 100 = 82,000
 Super Profit = Average- Normal Profit = 1,00,000 -82,000 = 18,000
 Goodwill = Super Profit X 100 Normal Rate of Return = 18,000 X 100 10 = 1,80,000
 Goodwill = Super profit x No. of year purchase = 18,000 x 3 = 54,000

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