[CBSE] DK Goel Q. 7 Change in Profit Sharing Ratio Solutions Class 12 (2024-25)

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Solution of Question 7 of Change in Profit sharing ratio DK Goel Class 12 CBSE (2024-25)

The profits earned by a firm during the last four years were as follows:

Year ended 31st MarchProfits (₹)
202180,000
20221,00,000
20231,10,000
20241,50,000

Calculate the value of goodwill on the basis of three year’s purchase of weighted average profits. Weights to be used are 1, 2, 3 and 4 respectively to the profits for 2021, 2022, 2023 and 2024.

[Ans. Goodwill ₹ 3,63,000.]

Solution:-

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