[CBSE] Q. 7 Solution of Goodwill TS Grewal Class 12 (2024-25)

Share your love

Solution to Question number 7 page of the Goodwill chapter 2 TS Grewal Book CBSE Board 2024-25 Edition.

Abhay, Babu, and Charu are partners sharing profits and losses equally. They agree to admit Daman for an equal share of profits. For this purpose, the value of goodwill is to be calculated on the basis of four years’ purchase of the average profit of the last five years. These profits for the year ended 31st March were:

YearProfits/Loss (₹)
20201,50,000
20213,50,000
20225,00,000
20237,10,000
2024(5,90,000)

On 1st April 2023, a car for ₹ 1,00,000 was purchased and debited to Travelling Expenses Account, on which depreciation is to be charged @ 25% p.a. Interest of ₹ 10,000 on Non-Trade Investments is credited to Income for the year ended 31st March 2023 and 2024.

Calculate the value of goodwill after adjusting the above.

[Goodwill – ₹ 9,40,000]

Solution:-

The link to All unsolved questions has been given below.

S.NQuestions
1Question – 1
2Question – 2
3Question – 3
4Question – 4
5Question – 5
6Question – 6
7Question – 7
8Question – 8
9Question – 9
10Question – 10
S.NQuestions
11Question – 11
12Question – 12
13Question – 13
14Question – 14
15Question – 15
16Question – 16
17Question – 17
18Question – 18
19Question – 19
20Question – 20
S.NQuestions
21Question – 21
22Question – 22
23Question – 23
24Question – 24
25Question – 25
26Question – 26
27Question – 27
28Question – 28
29Question – 29
30Question – 30
S.NQuestions
31Question – 31
32Question – 32
33Question – 33
34Question – 34
35Question – 35
36Question – 36
37Question – 37
Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 6105

Leave a Reply

Your email address will not be published. Required fields are marked *

close

Ad Blocker Detected!

Our Website is made possible by displaying online advertisements to our visitors. Please consider supporting us and remove the AD - Blocker to read this article.

Refresh