[ISC] Q. 6 Goodwill Solution TS Grewal Class 12 (2023-24)

Solution to Question number 6 of the Goodwill chapter 2 TS Grewal Book ISC Board 2023-24 Edition.

Naman and Amar are partners sharing profits in the ratio of 3 : 2. They decided to admit Raman as a partner from 1st April, 2023 on the following terms:

i) Raman will be given 2/5th share of the profit.

ii) Goodwill of the firm will be valued at two year’s purchase of three year’s normal average profit of the firm.

Profits of the previous three years ended 31st March, were:

2023 – Profit ₹ 30,000 (after debiting loss of stock by fire ₹ 40,000).

2022 – Loss ₹ 80,000 (includes voluntary retirement compensation paid ₹ 1,10,000).

2021 – Profit ₹ 1,10,000 (including a gain (profit) of ₹ 30,000 on the sale of fixed assets).

You are required to value the 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