[CBSE] DK Goel Q. 52 Change in Profit Sharing Ratio Solutions Class 12 (2024-25)

Solution of Question 52 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)

The following information relates to a partnership firm:

(a) Sundry Assets of the firm ₹ 6,80,000. Outside Liabilities ₹ 60,000.

(b) Profits and losses for the past years : Profit 2021 ₹ 50,000; Loss 2022 ₹ 10,000; Profit 2023 ₹ 1,64,000 and Profit 2024 ₹ 1,80,000.

(c) The normal rate of return in a similar type of business is 12%.

Calculate the value of goodwill on the basis of:

(i) Three year’s purchase of average profits.

(ii) Three year’s purchase of super profits.

(iii) Capitalisation of average profits, and

(iv) Capitalisation of super profits.

[Ans. (i) ₹ 2,88,000; (ii) ₹ 64,800; (iii) ₹ 1,80,000 and (iv) ₹ 1,80,000.]

Solution:-

Here are the solutions of Change in Profit Sharing ratio chapter of DK Goel Class 12 CBSE (2024-25)

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