# Question 8 Chapter 3 of Class 12 Part – 1 Usha Publication

Question 08 Chapter 3 of +2-Part-1

8. (Weighted Average Profit Method) The profits of Ram Mills for the last five years were as under:

 Year Profit/Loss 2015 10,000 2016 20,000 2017 30,000 2018 40,000 2019 60,000

Calculate the value of goodwill is 2 years purchase of average weighted profits. The weights are 1,2,3,4 and 5 in the year of 2015, 2016, 2017, 2018 and 2019.

## The solution of Question 08 Chapter 3 of +2 Part-1: –

Day - 53 | Questions of Goodwill Ch. 3 Partnership - II | Accounts class 12 | PSEB | Sarbjit Singh |

 Calculation of Weighted Average Profit Year Adjusted Profit (A) Weight (D) Product (E = C X D) 2015 10,000 1 10,000 2016 20,000 2 40,000 2017 30,000 3 90,000 2018 40,000 4 1,60,000 2019 60,000 5 3,00,000 Total 15 6,00,000
 Weighted Average Profit = Total weighted Profit Total weight = 6,00,000 15 = 40,000
 Number of years’ purchase = 2 Goodwill = Weighted Average Profit X Number of years’ purchase Goodwill = 40,000 X 2 Goodwill = 80,000

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