[ISC] Q. 21 Goodwill Solution TS Grewal Class 12 (2023-24)
Solution to Question number 21 of the Goodwill Chapter 2 TS Grewal Book ISC Board 2023-24 Edition.
Varuna and Karuna are partners for equal shares. They admit Lata into partnership for 1/4th share. It was agreed to value goodwill of the firm at 4 year’s purchase of super profit. Normal rate of return is 15% of the capital employed. Average profit of the firm is ₹ 4,00,000. Balance Sheet of the firm as at 31st March, 2023 was as follows:
| Liabilities | ₹ | Assets | ₹ |
| Capital A/cs: Varuna Karuna Reserves and Surplus Sundry Creditors Outstanding Expenses Advances from Customers | 5,00,000 5,00,000 5,50,000 2,00,000 50,000 1,50,000 | Furniture Computers Electrical Fittings Investments (Trade) Stock Sundry Debtors Bills Receivable Cash at Bank Cash in Hand Deferred Revenue Expenditure Advertisement Suspense | 4,00,000 3,00,000 1,00,000 2,00,000 3,00,000 3,00,000 50,000 2,00,000 50,000 50,000 |
| 19,50,000 | 19,50,000 |
Calculate the value of goodwill.
Solution:-
List of all solutions of Goodwill chapter TS Grewal ISC Board class 12 (2023-24)
| S.N | Questions |
| 1 | Question – 1 |
| 2 | Question – 2 |
| 3 | Question – 3 |
| 4 | Question – 4 |
| 5 | Question – 5 |
| 6 | Question – 6 |
| 7 | Question – 7 |
| 8 | Question – 8 |
| 9 | Question – 9 |
| 10 | Question – 10 |
| S.N | Questions |
| 11 | Question – 11 |
| 12 | Question – 12 |
| 13 | Question – 13 |
| 14 | Question – 14 |
| 15 | Question – 15 |
| 16 | Question – 16 |
| 17 | Question – 17 |
| 18 | Question – 18 |
| 19 | Question – 19 |
| 20 | Question – 20 |
| S.N | Questions |
| 21 | Question – 21 |
| 22 | Question – 22 |
| 23 | Question – 23 |
| 24 | Question – 24 |
| 25 | Question – 25 |
| 26 | Question – 26 |
| 27 | Question – 27 |
| 28 | Question – 28 |
| 29 | Question – 29 |
| 30 | Question – 30 |
| S.N | Questions |
| 31 | Question – 31 |
| 32 | Question – 32 |
| 33 | Question – 33 |
| 34 | Question – 34 |
| 35 | Question – 35 |
| 36 | Question – 36 |
