[ISC] Q. 12 Goodwill Solution TS Grewal Class 12 (2024-25)

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Solution to Question number 12 of the Goodwill chapter 2 TS Grewal Book ISC Board 2024-25 Edition.

Raman and Daman are partners sharing profits in the ratio of 60 : 40 and for the last four years they have been getting annual salaries of ₹ 50,000 and ₹ 40,000 respectively. The annual accounts have shown the following net profits before charging partner’s salaries:

Year ended 31st March, 2022 – ₹ 1,40,000; 2023 – ₹ 1,01,000 and 2024 – ₹ 1,30,000.

On 1st April, 2024, Zeenu is admitted to the partnership for 1/4th share in profit (without any salary). Goodwill is to be valued at four year’s purchase of weighted average profit of last three years (after partner’s salaries): profits to be weighted as 1 : 2 : 3, the greatest weight being given to the last year:

Calculate the value of Goodwill.

Solution:-

List of all solutions of Goodwill chapter TS Grewal ISC Board class 12 (2024-25)

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