[ISC] Q. 27 Goodwill Solution TS Grewal Class 12 (2024-25)

Solution to Question number 27 of the Goodwill Chapter 2 TS Grewal Book ISC Board 2024-25 Edition.

Ayub and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April, 2023. They agreed to value goodwill at 3 years purchase by Super Profit Method for which they decided to average profit of last 5 years. The profits for the last 5 years were:

Year Ended	Net Profit (₹)
31st March, 2020	1,50,000
31st March, 2021	1,80,000
31st March, 2022	1,00,000 (Including abnormal loss of ₹ 1,00,000)
31st March, 2023	2,60,000 (Including abnormal gain (profit) of ₹ 40,000)
31st March, 2024	2,40,000

The firm has total assets of ₹ 20,00,000 and Outside Liabilities of ₹ 5,00,000 as on that date. Normal Rate of Return in similar business is 10%.

Calculate value of goodwill.

Solution:-

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

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