[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

S.N	Questions
41	Question – 41
42	Question – 42
43	Question – 43
44	Question – 44
45	Question – 45
46	Question – 46
47	Question – 47
48	Question – 48
49	Question – 49
50	Question – 50

S.N	Questions
51	Question – 51
52	Question – 52
53	Question – 53
54	Question – 54
55	Question – 55
56	Question – 56
57	Question – 57
58	Question – 58
59	Question – 59
60	Question – 60
61	Question – 61
62	Question – 62