[ISC] Q. 20 Goodwill Solution TS Grewal Class 12 (2023-24)

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Solution to Question number 20 of the Goodwill Chapter 2 TS Grewal Book ISC Board 2023-24 Edition.

Ideal Marketing earned an average profit of ₹ 4,00,000 during the last five years. Normal rate of return on capital employed is 10%. Balance Sheet of the firm as at 31st March, 2023 was as follows:

LiabilitiesAssets
Capital A/cs:
Shyam
Sunder
Current A/cs:
Shyam
Sunder
Reserves
Sundry Creditors
Bills Payable
Outstanding Expenses
5,00,000
5,00,000
2,00,000
2,00,000
3,40,000
4,00,000
1,00,000
60,000
Land and Building
Furniture
Investments
Sundry Debtors
Bills Receivable
Closing Stock
Cash in Bank
Cash in Han
10,00,000
2,00,000
1,00,000
5,00,000
50,000
3,00,000
1,00,000
50,000
23,00,00023,00,000

Calculate the value of goodwill, if it is valued at three year’s purchase of Super Profits.

Solution:-

List of all solutions of Goodwill chapter TS Grewal ISC Board class 12 (2023-24)

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