[CBSE] Q. 24 Solution of Goodwill TS Grewal Class 12 (2024-25)

Solution to Question number 24 page of the Goodwill Chapter 2 TS Grewal Book CBSE Board 2024-25 Edition.

Ayub and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April 2024. They agreed to value goodwill at 3 years’ purchase of super profit method for which they decided to average profit of last 5 years. The profits for the last 5 years were:

Year Ended	Net Profit (₹)
31st March 2020	1,50,000
31st March 2021	1,80,000
31st March 2022	1,00,000 (including abnormal loss of ₹ 1,00,000)
31st March, 2023	2,60,000 (including abnormal gain (profit) of ₹ 40,000)
31st March 2024	2,40,000

The firm has total assets of ₹ 20,00,000 and Outside Liabilities of ₹ 5,00,000 as on that date Normal Rate of Return in similar businesses is 10%.

Calculate the Value of Goodwill.

[Ans.: Goodwill – ₹ 1,44,000.]

Solution:-

The link to All unsolved questions has been given below.

S.N	Questions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Questions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Questions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27
28	Question – 28
29	Question – 29
30	Question – 30

S.N	Questions
31	Question – 31
32	Question – 32
33	Question – 33
34	Question – 34
35	Question – 35
36	Question – 36
37	Question – 37