[CBSE] Q. 3 Solution of Goodwill TS Grewal Class 12 (2023-24)

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Solution to Question number 3 page of the Goodwill chapter 2 TS Grewal Book CBSE Board 2023-24 Edition.

Annu, Baby, and Chetan are partners in a firm sharing profits and losses equally. They take Deep into partnership from 1st April 2023 for 1/5th share in the future profits. For this purpose, goodwill is valued at 100% of the average annual profit of the previous three or four years, whichever is higher.

The annual profits for the purpose of goodwill for the past four years were:

Year EndedProfit (₹)
31st March 20232,88,000
31st March 20221,81,800
31st March, 20211,87,200
31st March, 20202,53,200

Calculate the value of goodwill

[Ans: Goodwill – ₹ 2,27,550.]

Solution:-

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