[CBSE] Q. 4 Solution of Goodwill TS Grewal Class 12 (2023-24)

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Solution to Question number 4 page of the Goodwill chapter 2 TS Grewal Book CBSE Board 2023-24 Edition.

Purav and Purvi are partners in a firm sharing profits and losses in the ratio of 2 : 1. They admit Parv into a partnership for 1/4th share on 1st April 2023. For this purpose, goodwill is to be valued at four times the average annual profit of the previous four or five years, whichever is higher. The agreed profits for goodwill purposes of the past five years ended 31st March are:

YearProfit (₹)
201914,000
202015,500
202110,000
202216,000
202315,000

Calculate the value of goodwill.

[Ans: Goodwill – ₹ 56,500.]

Solution:-

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