[CBSE] DK Goel Q. 9 Change in Profit Sharing Ratio Solutions Class 12 (2024-25)
Solution of Question 9 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)
Calculate the value of goodwill on the basis of three year’s purchase of the weighted average profits of the last five years. Profits to be weighted 1, 2, 3, 4 and 5, the greatest weightage to be given to last year. Profits of the last five years were :
| Year | Profits | |
| 2019 | 80,000 | |
| 2020 | 1,05,000 | (after considering abnormal loss of ₹ 41,500) |
| 2021 | (20,000) | (after considering abnormal gain of ₹ 40,000) |
| 2022 | 1,80,000 | |
| 2023 | 2,00,000 |
Books of Accounts of the firm revealed that:
(I) Closing stock as on 31st March, 2019 was overvalued by ₹ 40,000.
(ii) Repairs to Machinery ₹ 60,000 were wrongly debited to Machinery Account on 1st July, 2021. Depreciation was charged on Machinery @ 20% p.a. on diminishing balance method.
[Ans. Value of Goodwill ₹ 3,60,000.]
Solution:-
Here are the solutions of Change in Profit Sharing ratio chapter of DK Goel Class 12 CBSE (2024-25)
| 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 | |
| 38 | Question – 38 | |
| 39 | Question – 39 | |
| 40 | Question – 40 |
